Maryland State Retirement & Pension System Sells 1,213 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Maryland State Retirement & Pension System lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,115 shares of the company’s stock after selling 1,213 shares during the period. Maryland State Retirement & Pension System’s holdings in Principal Financial Group were worth $938,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the 4th quarter valued at approximately $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of 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 during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $46,000. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented 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. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Piper Sandler boosted their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Trading Down 1.0 %

Shares of NYSE PFG opened at $83.26 on Monday. The firm has a 50 day moving average price of $83.65 and a two-hundred day moving average price of $83.48. The stock has a market cap of $18.78 billion, a P/E ratio of 12.46, a price-to-earnings-growth 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 $91.98. 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 business 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. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 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.