Carret Asset Management LLC Has $544,000 Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Carret Asset Management LLC trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,023 shares of the company’s stock after selling 133 shares during the quarter. Carret Asset Management LLC’s holdings in Principal Financial Group were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Principal Financial Group by 2.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 77,668 shares of the company’s stock worth $6,012,000 after acquiring an additional 1,620 shares in the last quarter. Erste Asset Management GmbH boosted its holdings in shares of Principal Financial Group by 4.8% in the 4th quarter. Erste Asset Management GmbH now owns 4,400 shares of the company’s stock worth $342,000 after acquiring an additional 200 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Principal Financial Group by 9.6% in the 4th quarter. Farther Finance Advisors LLC now owns 7,216 shares of the company’s stock worth $559,000 after acquiring an additional 632 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Principal Financial Group by 64.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,630 shares of the company’s stock worth $358,000 after acquiring an additional 1,818 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Principal Financial Group by 8.1% in the 4th quarter. HighTower Advisors LLC now owns 14,451 shares of the company’s stock worth $1,119,000 after acquiring an additional 1,080 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $82.78 on Friday. The firm has a fifty day moving average of $83.06 and a two-hundred day moving average of $83.34. The stock has a market capitalization of $18.67 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.62%. Principal Financial Group’s payout ratio is presently 44.91%.

Principal Financial Group Company 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.