Price T Rowe Associates Inc. MD Has $23.42 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Price T Rowe Associates Inc. MD cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 302,579 shares of the company’s stock after selling 334 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Principal Financial Group were worth $23,423,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PFG. Stifel Financial Corp raised its position in shares of Principal Financial Group by 3.8% in the fourth quarter. Stifel Financial Corp now owns 14,638 shares of the company’s stock valued at $1,133,000 after purchasing an additional 530 shares during the period. Tower Research Capital LLC TRC raised its holdings in Principal Financial Group by 1.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,485 shares of the company’s stock valued at $1,354,000 after acquiring an additional 324 shares during the period. MetLife Investment Management LLC lifted its position in Principal Financial Group by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 55,984 shares of the company’s stock worth $4,334,000 after acquiring an additional 295 shares during the last quarter. Natixis boosted its holdings in shares of Principal Financial Group by 1.9% during the fourth quarter. Natixis now owns 143,391 shares of the company’s stock worth $11,100,000 after acquiring an additional 2,610 shares during the period. Finally, Norinchukin Bank The grew its position in shares of Principal Financial Group by 9.2% in the fourth quarter. Norinchukin Bank The now owns 9,715 shares of the company’s stock valued at $752,000 after purchasing an additional 819 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PFG. Piper Sandler boosted their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. BMO Capital Markets started coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Barclays cut their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley reduced their price target on Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $83.31.

Principal Financial Group Price Performance

PFG stock opened at $74.07 on Friday. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a 50 day simple moving average of $79.59 and a 200 day simple moving average of $81.81. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter last year, the company earned $1.65 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Monday, June 2nd. Principal Financial Group’s payout ratio is 65.10%.

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.