Corient Private Wealth LLC Sells 23,752 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Corient Private Wealth LLC lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 40.9% in the 4th quarter, HoldingsChannel reports. The firm owned 34,300 shares of the company’s stock after selling 23,752 shares during the period. Corient Private Wealth LLC’s holdings in Principal Financial Group were worth $2,655,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PFG. Commonwealth Equity Services LLC boosted its holdings in shares of Principal Financial Group by 2.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 77,668 shares of the company’s stock worth $6,012,000 after buying an additional 1,620 shares in the last quarter. Erste Asset Management GmbH boosted its stake in Principal Financial Group by 4.8% during the fourth quarter. Erste Asset Management GmbH now owns 4,400 shares of the company’s stock worth $342,000 after acquiring an additional 200 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Principal Financial Group by 9.6% in the fourth quarter. Farther Finance Advisors LLC now owns 7,216 shares of the company’s stock worth $559,000 after purchasing an additional 632 shares during the period. Sequoia Financial Advisors LLC increased its stake in Principal Financial Group by 64.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,630 shares of the company’s stock valued at $358,000 after purchasing an additional 1,818 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Principal Financial Group by 8.1% during the fourth quarter. HighTower Advisors LLC now owns 14,451 shares of the company’s stock valued at $1,119,000 after purchasing an additional 1,080 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Down 1.0 %

PFG opened at $83.26 on Monday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. The firm has a market capitalization of $18.78 billion, a P/E ratio of 12.46, a PEG ratio of 0.76 and a beta of 1.17. The company’s 50-day moving average is $83.65 and its 200 day moving average is $83.48. 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 Increases Dividend

The firm also recently announced 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is presently 44.91%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Piper Sandler boosted their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 10th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Barclays lifted 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 report on Friday, February 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average price target of $85.92.

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.