National Pension Service Reduces Holdings in Principal Financial Group, Inc.

The National Pension Service has reduced its investment in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 7.2% during the fourth quarter. This information comes from the latest Form 13F filing with the SEC. After selling 27,049 shares, the National Pension Service now holds 350,543 shares of the company. At the end of the last quarter, this stake represented approximately 0.15% of Principal Financial Group, valued at around $27,136,000.

Recent Institutional Activity

In addition to the National Pension Service's changes, several other institutional investors and hedge funds have either increased or decreased their shares in Principal Financial Group. For instance, DMKC Advisory Services LLC acquired a new position in the company worth about $4,703,000 during the fourth quarter. Similarly, Denali Advisors LLC invested approximately $514,000, while Sentry Investment Management LLC and BankPlus Trust Department made smaller investments worth $63,000 and $33,000, respectively. Notably, IFP Advisors Inc raised its stake by 20.5% in the same quarter, bringing its total to 10,177 shares worth $789,000 after acquiring an additional 1,729 shares.

Overall, institutional investors now hold around 75.08% of Principal Financial Group's stock.

Analyst Ratings Updates

A number of research firms have provided their insights on Principal Financial Group recently. On January 7, JPMorgan Chase & Co. upgraded the company's stock from a "neutral" rating to "overweight," while also adjusting the price target from $95.00 to $92.00. In another report dated February 10, Piper Sandler increased its target price from $90.00 to $93.00 and assigned an "overweight" rating. Conversely, Wells Fargo & Company raised their target price from $69.00 to $74.00, issuing an "underweight" rating on February 19. Furthermore, Barclays increased its target from $77.00 to $80.00, while Morgan Stanley reiterated an "underweight" rating with a price target reduced from $86.00 to $80.00. Currently, four equity research analysts have given the stock a sell rating, while six rate it as a hold, two as a buy, and one has designated it as a strong buy. According to MarketBeat, the consensus average rating for Principal Financial Group is "Hold" with a target price of $85.92.

Stock Performance Overview

Shares of Principal Financial Group opened at $89.04 on Friday. Over the past year, the stock reached a low of $72.21 and a high of $91.97. The company's 50-day moving average price stands at $81.67, with a 200-day moving average price of $82.91. Principal Financial Group has a market capitalization of $20.08 billion and a P/E ratio of 13.33, with a PEG ratio of 0.76 and a beta of 1.22. The company reported a quick ratio of 0.30, a current ratio of 0.29, and a debt-to-equity ratio of 0.36.

Dividend Announcement

Moreover, Principal Financial Group has declared a quarterly dividend which will be disbursed on March 28. Shareholders of record by March 12 will receive a dividend of $0.75 per share, up from the previous $0.73. This works out to an annualized dividend of $3.00, providing a yield of 3.37%. The ex-dividend date is also set for March 12. Currently, the company's dividend payout ratio is at 44.91%.

About Principal Financial Group

Principal Financial Group, Inc. offers a range of financial services, including retirement planning, asset management, and insurance products to individuals, businesses, and institutional clients globally. It operates through various segments, including Retirement and Income Solutions and Principal Asset Management.

PFG, Investments, Dividends