Massachusetts Financial Services Co. MA Sells 8,991 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Massachusetts Financial Services Co. MA trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 457,142 shares of the company’s stock after selling 8,991 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Principal Financial Group were worth $35,387,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PFG. Curio Wealth LLC bought a new stake in Principal Financial Group during the fourth quarter valued at about $29,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the 4th quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC lifted its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Principal Financial Group in the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in Principal Financial Group during the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 8.0 %

Shares of PFG opened at $72.94 on Friday. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.98. 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 company’s fifty day simple moving average is $84.12 and its 200-day simple moving average is $83.67. The company has a market cap of $16.45 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is 44.91%.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler raised their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays boosted their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Wells Fargo & Company lifted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.57.

Principal Financial Group 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.