Corebridge Financial Inc. Sells 3,085 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Corebridge Financial Inc. lessened its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,939 shares of the company’s stock after selling 3,085 shares during the quarter. Corebridge Financial Inc.’s holdings in Principal Financial Group were worth $3,866,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its stake in Principal Financial Group by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after acquiring an additional 132 shares during the period. Leavell Investment Management Inc. boosted its holdings in Principal Financial Group by 5.4% during 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 in the last quarter. CENTRAL TRUST Co grew its stake in shares of Principal Financial Group by 9.6% in the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock valued at $134,000 after purchasing an additional 151 shares during the period. Cidel Asset Management Inc. raised its holdings in shares of Principal Financial Group by 6.3% in the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after buying an additional 156 shares in the last quarter. Finally, Hartford Funds Management Co LLC lifted its position in shares of Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PFG shares. Wells Fargo & Company increased 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. Royal Bank of Canada reiterated 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. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Down 2.4 %

NYSE PFG opened at $83.06 on Monday. The stock has a market capitalization of $18.74 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a fifty day moving average of $84.15 and a 200-day moving average of $83.69.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.61%. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s payout ratio is currently 44.91%.

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.