Yousif Capital Management LLC Reduces Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Yousif Capital Management LLC reduced its stake in Principal Financial Group, Inc. (NYSE:PFG) by 25.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,485 shares of the company’s stock after selling 10,183 shares during the quarter. Yousif Capital Management LLC’s holdings in Principal Financial Group were worth $2,282,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PFG. AMF Tjanstepension AB grew its holdings in shares of Principal Financial Group by 28.7% during the third quarter. AMF Tjanstepension AB now owns 290,723 shares of the company’s stock valued at $24,997,000 after buying an additional 64,915 shares during the last quarter. Atomi Financial Group Inc. acquired a new stake in Principal Financial Group during the 3rd quarter worth about $209,000. CWM LLC grew its stake in Principal Financial Group by 10.0% during the 3rd quarter. CWM LLC now owns 12,410 shares of the company’s stock valued at $1,066,000 after purchasing an additional 1,125 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Principal Financial Group by 434.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,182 shares of the company’s stock valued at $359,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Principal Financial Group by 2,192.3% in the third quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the company’s stock valued at $256,000 after purchasing an additional 2,850 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of PFG opened at $84.38 on Tuesday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The stock has a market capitalization of $19.30 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company’s fifty day moving average is $80.04 and its two-hundred day moving average is $82.04.

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 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 yield of 3.56%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is 43.71%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler raised their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets began coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Wells Fargo & Company cut their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.38.

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.