Prossimo Advisors LLC Has $208,000 Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Prossimo Advisors LLC reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,692 shares of the company’s stock after selling 132 shares during the period. Prossimo Advisors LLC’s holdings in Principal Financial Group were worth $208,000 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 the stock. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the third quarter worth $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group in the third quarter valued at approximately $43,000. Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group during the third quarter worth $45,000. Sugarloaf Wealth Management LLC boosted its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Principal Financial Group in the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $86.60 on Wednesday. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The firm has a market capitalization of $19.81 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22. The firm has a fifty day simple moving average of $80.31 and a two-hundred day simple moving average of $82.28. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The firm also recently announced 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 43.71%.

Wall Street Analysts Forecast Growth

PFG has been the subject of several analyst reports. Barclays boosted their target price 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. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Royal Bank of Canada reaffirmed 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 stock a “market perform” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective 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. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.54.

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.