Handelsbanken Fonder AB Sells 4,565 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Handelsbanken Fonder AB lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,554 shares of the company's stock after selling 4,565 shares during the quarter. Handelsbanken Fonder AB's holdings in Principal Financial Group were worth $1,144,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the fourth quarter valued at about $33,000. Navigoe LLC acquired a new stake in Principal Financial Group in the fourth quarter worth about $37,000. Ameriflex Group Inc. bought a new stake in Principal Financial Group during the 4th quarter worth about $37,000. Finally, Covestor Ltd lifted its position in Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares during the period. Institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PFG shares. UBS Group decreased their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Piper Sandler boosted their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Morgan Stanley upped their price target on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. Barclays reduced their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company increased their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have assigned 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.com, the company presently has an average rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Stock Up 0.3%

NYSE PFG traded up $0.22 on Wednesday, reaching $76.02. The company had a trading volume of 336,412 shares, compared to its average volume of 1,327,675. The company's fifty day moving average is $76.44 and its 200-day moving average is $79.85. The firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the prior year, the company earned $1.65 EPS. On average, research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.00%. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

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.