M&T Bank Corp Has $620,000 Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

M&T Bank Corp trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 37.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,353 shares of the company's stock after selling 4,446 shares during the period. M&T Bank Corp's holdings in Principal Financial Group were worth $620,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Stratos Wealth Partners LTD. lifted its holdings in Principal Financial Group by 3.9% in the first quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company's stock valued at $323,000 after buying an additional 144 shares during the period. Argent Trust Co lifted its holdings in Principal Financial Group by 0.6% in the fourth quarter. Argent Trust Co now owns 29,345 shares of the company's stock valued at $2,272,000 after buying an additional 161 shares during the period. WFA Asset Management Corp lifted its holdings in Principal Financial Group by 32.3% in the first quarter. WFA Asset Management Corp now owns 684 shares of the company's stock valued at $59,000 after buying an additional 167 shares during the period. Mather Group LLC. raised its holdings in Principal Financial Group by 11.0% in the first quarter. Mather Group LLC. now owns 1,803 shares of the company's stock worth $152,000 after purchasing an additional 178 shares during the period. Finally, HighPoint Advisor Group LLC raised its holdings in Principal Financial Group by 2.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 9,778 shares of the company's stock worth $836,000 after purchasing an additional 203 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley reiterated an "underweight" rating and issued a $75.00 target price (up from $71.00) on shares of Principal Financial Group in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler increased their target price on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. UBS Group cut their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Wells Fargo & Company increased their target price on shares of Principal Financial Group from $69.00 to $73.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average target price of $84.08.

Principal Financial Group Stock Up 1.0%

Shares of PFG stock traded up $0.83 during trading hours on Thursday, hitting $80.65. 384,729 shares of the company were exchanged, compared to its average volume of 1,318,143. The company has a market capitalization of $18.08 billion, a PE ratio of 12.07, a PEG ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The business has a 50 day moving average of $78.67 and a two-hundred day moving average of $79.77. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $1.65 EPS. Analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 2nd were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

Principal Financial Group Company 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.