National Pension Service Reduces Holdings in Principal Financial Group, Inc.

National Pension Service has reduced its investment in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 7.2% during the fourth quarter, as reported in its latest Form 13F filing with the SEC. Following this sale, the institution now holds 350,543 shares of the company, after selling 27,049 shares during the quarter. At the end of the last quarter, National Pension Service's stake in Principal Financial Group was valued at approximately $27,136,000, representing around 0.15% of the company.

Several other institutional investors and hedge funds have also recently adjusted their holdings in Principal Financial Group. For instance, DMKC Advisory Services LLC acquired a new position in the firm worth about $4,703,000 last quarter. Denali Advisors LLC and Sentry Investment Management LLC made new purchases worth approximately $514,000 and $63,000, respectively. BankPlus Trust Department also bought a new stake for around $33,000. Meanwhile, IFP Advisors Inc. expanded its investment by 20.5% during the fourth quarter, increasing its total holdings to 10,177 shares valued at $789,000 after adding 1,729 shares.

Overall, institutional investors now own approximately 75.08% of Principal Financial Group's shares.

Changes in Analyst Ratings

Various research firms have recently provided updates on Principal Financial Group. In a report released on January 7th, JPMorgan Chase & Co. upgraded the company's rating from "neutral" to "overweight" while lowering the price target from $95.00 to $92.00. Piper Sandler increased their target price from $90.00 to $93.00 and rated the stock as "overweight" on February 10th. Similarly, Wells Fargo boosted the target from $69.00 to $74.00, maintaining an "underweight" rating, while Barclays also raised their target price from $77.00 to $80.00, issuing an "underweight" rating. Morgan Stanley reaffirmed an "underweight" rating and set a target price at $80.00, down from $86.00. Currently, among the equity research analysts, four rate the stock as a sell, six issue a hold rating, two give a buy rating, and one assigns a strong buy rating. MarketBeat's consensus indicates a general "Hold" rating with an average price target of $85.92.

Principal Financial Group's Stock Performance

The shares of Principal Financial Group opened at $89.04 on Friday. Over the past year, the company's stock has seen a low of $72.21 and a high of $91.97. Presently, the 50-day moving average hovers around $81.67, while the 200-day moving average is at $82.91. The company's market capitalization stands at $20.08 billion, sporting a P/E ratio of 13.33. Its beta value is 1.22, while its quick and current ratios are at 0.30 and 0.29, respectively. The debt-to-equity ratio is reported at 0.36.

Dividend Update from Principal Financial Group

Moreover, the firm has announced a quarterly dividend, to be distributed on March 28. Shareholders on record as of March 12 will receive a dividend of $0.75 per share, an increase from the previous dividend of $0.73. This change translates to an annualized dividend of $3.00, yielding approximately 3.37%. The ex-dividend date is set for March 12, and the dividend payout ratio currently stands at 44.91%.

About Principal Financial Group

Principal Financial Group, Inc. is engaged in providing a diverse range of retirement, asset management, and insurance services to individuals, businesses, and institutional clients globally. The company operates through multiple segments, including Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection, with the Retirement and Income Solutions segment focusing on various retirement and related financial products.

Pension, Investors, Holdings