Kentucky Retirement Systems Sells 202 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Kentucky Retirement Systems decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,641 shares of the company’s stock after selling 202 shares during the period. Kentucky Retirement Systems’ holdings in Principal Financial Group were worth $1,133,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its position in Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after acquiring an additional 132 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in shares of Principal Financial Group by 5.4% in the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Principal Financial Group by 2.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after buying an additional 142 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Principal Financial Group by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after buying an additional 142 shares during the period. Finally, Palisade Asset Management LLC grew its stake in Principal Financial Group by 2.1% in the 3rd quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock valued at $597,000 after buying an additional 146 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $84.38 on Monday. The firm has a 50 day simple moving average of $80.69 and a 200 day simple moving average of $82.55. The company has a market cap of $19.03 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 43.71%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PFG. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Barclays upped their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Piper Sandler increased their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target for the company. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.92.

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.