Belpointe Asset Management LLC Sells 412 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Belpointe Asset Management LLC cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,040 shares of the company’s stock after selling 412 shares during the period. Belpointe Asset Management LLC’s holdings in Principal Financial Group were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in PFG. SageView Advisory Group LLC raised its holdings in shares of Principal Financial Group by 8.5% in the fourth quarter. SageView Advisory Group LLC now owns 2,916 shares of the company’s stock valued at $226,000 after acquiring an additional 229 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $279,000. Sterling Capital Management LLC lifted its position in shares of Principal Financial Group by 54.0% in the 4th quarter. Sterling Capital Management LLC now owns 13,485 shares of the company’s stock worth $1,044,000 after purchasing an additional 4,731 shares during the period. Covestor Ltd boosted its stake in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Argent Trust Co boosted its stake in shares of Principal Financial Group by 0.6% during the fourth quarter. Argent Trust Co now owns 29,345 shares of the company’s stock valued at $2,272,000 after purchasing an additional 161 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFG has been the subject of a number of analyst reports. Piper Sandler upped their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on Principal Financial Group from $74.00 to $68.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Morgan Stanley lowered their price target on shares of Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.69.

Principal Financial Group Trading Down 2.0 %

Principal Financial Group stock opened at $71.64 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market cap of $16.12 billion, a PE ratio of 10.72, a P/E/G ratio of 0.76 and a beta of 1.01. The stock’s 50 day simple moving average is $82.30 and its two-hundred day simple moving average is $82.82. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid 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 dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend 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.