Principal Financial Group, Inc. (NYSE:PFG) Holdings Decreased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,064 shares of the company’s stock after selling 189 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Principal Financial Group were worth $82,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PFG. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group during the third quarter valued at about $33,000. BankPlus Trust Department bought a new stake in shares of Principal Financial Group during the fourth quarter valued at about $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the third quarter valued at about $43,000. Sugarloaf Wealth Management LLC raised its stake in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group during the third quarter valued at about $45,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

NYSE PFG opened at $85.61 on Monday. The stock’s 50-day moving average price is $82.56 and its two-hundred day moving average price is $83.28. 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 has a market cap of $19.31 billion, a PE ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. This is a boost 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

A number of equities research analysts recently weighed in on PFG shares. Piper Sandler lifted their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $85.92.

About Principal Financial Group

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.