Nuveen Asset Management LLC Decreases Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Nuveen Asset Management LLC lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 553,555 shares of the company's stock after selling 7,732 shares during the period. Nuveen Asset Management LLC owned about 0.24% of Principal Financial Group worth $42,851,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Curio Wealth LLC purchased a new position in shares of Principal Financial Group in the fourth quarter worth about $29,000. BankPlus Trust Department purchased a new position in shares of Principal Financial Group in the fourth quarter worth about $33,000. Navigoe LLC purchased a new position in shares of Principal Financial Group in the fourth quarter worth about $37,000. Covestor Ltd increased its stake in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Principal Financial Group in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

PFG has been the subject of several recent research reports. UBS Group reduced their target price on shares of 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. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 29th. BMO Capital Markets started 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. Piper Sandler raised their price objective 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Trading Down 0.3%

Shares of Principal Financial Group stock opened at $81.30 on Tuesday. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The firm has a market cap of $18.23 billion, a PE ratio of 12.17, a PEG ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a 50 day simple moving average of $78.06 and a two-hundred day simple moving average of $81.07.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the business earned $1.65 EPS. Analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. The ex-dividend date is Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 3.74%. Principal Financial Group's payout ratio is presently 65.10%.

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.

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