Hartford Investment Management Co. Sells 255 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Hartford Investment Management Co. lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,062 shares of the company’s stock after selling 255 shares during the period. Hartford Investment Management Co.’s holdings in Principal Financial Group were worth $1,011,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. KBC Group NV lifted its stake in shares of Principal Financial Group by 398.4% during the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after acquiring an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Principal Financial Group by 85.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after purchasing an additional 215,045 shares during the period. Bank of Montreal Can boosted its stake in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after purchasing an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC grew its position in shares of Principal Financial Group by 818.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after buying an additional 136,021 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Principal Financial Group by 6,593.7% during the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after buying an additional 130,225 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.5 %

Shares of PFG stock opened at $85.65 on Friday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $80.10 and a 200-day moving average of $82.12. The company has a market capitalization of $19.59 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This is an increase 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 3.50%. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFG. Piper Sandler raised their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Barclays increased their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. 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 given 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 price target of $85.54.

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.