Arjuna Capital Cuts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Arjuna Capital lessened its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 5.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 81,532 shares of the company’s stock after selling 4,253 shares during the period. Principal Financial Group comprises 1.7% of Arjuna Capital’s holdings, making the stock its 13th biggest position. Arjuna Capital’s holdings in Principal Financial Group were worth $6,311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in Principal Financial Group by 15.6% during the third quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company’s stock valued at $1,870,000 after purchasing an additional 2,933 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Principal Financial Group by 2.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,091 shares of the company’s stock valued at $437,000 after buying an additional 144 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Principal Financial Group by 15.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 109,100 shares of the company’s stock valued at $9,372,000 after buying an additional 14,588 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Principal Financial Group by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 231,277 shares of the company’s stock worth $19,867,000 after buying an additional 6,817 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $50,000. 75.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on PFG. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Piper Sandler upped their target price on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods raised their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Performance

PFG opened at $85.61 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The firm has a 50 day moving average of $82.56 and a two-hundred day moving average of $83.20. The firm has a market capitalization of $19.31 billion, a PE ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.50%. Principal Financial Group’s payout ratio is currently 44.91%.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.