Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,689 shares of the company’s stock after selling 262 shares during the period. Frank Rimerman Advisors LLC’s holdings in Principal Financial Group were worth $673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Principal Financial Group during the 3rd quarter worth approximately $33,000. BankPlus Trust Department acquired a new position in Principal Financial Group during the 4th quarter worth approximately $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group during the 3rd quarter worth approximately $43,000. Sugarloaf Wealth Management LLC grew its holdings in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 2.8 %

Shares of Principal Financial Group stock opened at $82.78 on Friday. The company has a market cap of $18.67 billion, a P/E ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. 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, Inc. has a one year low of $72.21 and a one year high of $91.97. The firm has a fifty day moving average of $83.06 and a two-hundred day moving average of $83.36.

Principal Financial Group Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.62%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. 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, 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 research report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.92.

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.