CANADA LIFE ASSURANCE Co Trims Position in Principal Financial Group, Inc. (NYSE:PFG)

CANADA LIFE ASSURANCE Co decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 245,316 shares of the company's stock after selling 9,542 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.11% of Principal Financial Group worth $18,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its position in shares of Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock worth $404,000 after purchasing an additional 132 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock worth $208,000 after buying an additional 138 shares during the period. CENTRAL TRUST Co boosted its holdings in Principal Financial Group by 9.6% in the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock worth $134,000 after acquiring an additional 151 shares in the last quarter. Cidel Asset Management Inc. grew its stake in Principal Financial Group by 6.3% in the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company's stock valued at $204,000 after acquiring an additional 156 shares during the period. Finally, Hartford Funds Management Co LLC raised its position in shares of Principal Financial Group by 1.5% during the fourth quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company's stock worth $870,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Analysts Set New Price Targets

PFG has been the subject of several analyst reports. Morgan Stanley lowered their price objective on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Piper Sandler raised their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Royal Bank of Canada reissued 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. Finally, Barclays reduced their target price on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $84.69.

Principal Financial Group Stock Performance

PFG traded down $1.54 during trading hours on Friday, hitting $73.46. The stock had a trading volume of 2,703,562 shares, compared to its average volume of 1,296,161. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The company's fifty day simple moving average is $80.50 and its 200 day simple moving average is $82.21. The stock has a market cap of $16.53 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.14%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is 44.91%.

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.