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

Kentucky Retirement Systems cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,641 shares of the company’s stock after selling 202 shares during the quarter. Kentucky Retirement Systems’ holdings in Principal Financial Group were worth $1,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ING Groep NV acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $776,000. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Principal Financial Group by 53.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,695 shares of the company’s stock worth $750,000 after buying an additional 3,387 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Principal Financial Group by 1.5% during the fourth quarter. CIBC Asset Management Inc now owns 38,295 shares of the company’s stock worth $2,964,000 after buying an additional 566 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Principal Financial Group by 0.7% in the 4th quarter. Sanctuary Advisors LLC now owns 25,107 shares of the company’s stock valued at $2,097,000 after buying an additional 175 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Principal Financial Group by 5.3% in the 4th quarter. Allworth Financial LP now owns 7,866 shares of the company’s stock valued at $642,000 after buying an additional 397 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Down 2.5 %

Shares of NYSE:PFG opened at $84.38 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $19.03 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.76 and a beta of 1.22. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The company’s 50-day moving average price is $80.69 and its two-hundred day moving average price is $82.55.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PFG shares. Morgan Stanley reissued 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. BMO Capital Markets started coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. Piper Sandler raised their target price 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. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.