JPMorgan Chase & Co. Has $153.24 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

JPMorgan Chase & Co. lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 19.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,979,558 shares of the company’s stock after selling 483,004 shares during the quarter. JPMorgan Chase & Co. owned 0.87% of Principal Financial Group worth $153,238,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Curio Wealth LLC acquired a new position in Principal Financial Group in the fourth quarter worth $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group during the 4th quarter worth about $33,000. 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 during the last quarter. Golden State Wealth Management LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $46,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth about $54,000. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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 report on Wednesday, February 12th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Barclays raised their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Piper Sandler boosted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company lifted their price target 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. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Trading Up 0.9 %

Shares of PFG stock opened at $85.15 on Wednesday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The firm has a 50 day moving average price of $84.26 and a two-hundred day moving average price of $83.75. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $19.21 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.52%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

About Principal Financial Group

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.