National Pension Service Reduces Stake in Principal Financial Group

The National Pension Service has decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 7.2% during the fourth quarter, as revealed in its latest Form 13F filing with the SEC. Following the sale of 27,049 shares, the institutional investor now holds 350,543 shares of Principal Financial Group, representing approximately 0.15% of the company, valued at $27,136,000 at the end of the recent quarter.

Changes in Stake by Other Investors

In addition to the National Pension Service, several institutional investors and hedge funds have adjusted their positions in Principal Financial Group. For instance, DMKC Advisory Services LLC acquired a new stake worth around $4,703,000 during the fourth quarter. Likewise, Denali Advisors LLC purchased a new stake of approximately $514,000, while Sentry Investment Management LLC and BankPlus Trust Department invested about $63,000 and $33,000, respectively. Additionally, IFP Advisors Inc increased its stake by 20.5% during the same period, now owning 10,177 shares valued at $789,000 after buying 1,729 more shares in the last quarter. Collectively, hedge funds and other institutional investors own 75.08% of Principal Financial Group's stock.

Analyst Ratings and Stock Performance

Recent discussions among research firms have brought attention to the stock. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" to an "overweight" rating while adjusting their price target from $95.00 to $92.00 as of January 7th. Piper Sandler also raised their price target from $90.00 to $93.00, giving it an "overweight" rating on February 10th. However, Wells Fargo & Company and Barclays have issued "underweight" ratings, with price targets of $74.00 and $80.00, respectively. Overall, the current consensus rating on the stock stands at "Hold" with an average target price of $85.92 based on data from MarketBeat.

Principal Financial Group Stock Details

The shares of Principal Financial Group opened at $89.04 recently, having shown a fifty-two week range that spans a low of $72.21 to a high of $91.97. The company's stock has a market capitalization of $20.08 billion, a P/E ratio of 13.33, and a beta of 1.22. Its 50-day and 200-day moving averages stand at $81.67 and $82.91, respectively.

Dividends Announced

Recently, Principal Financial Group declared a quarterly dividend set to be paid on March 28th. Shareholders of record as of March 12th will receive $0.75 per share, marking an increase from the previous dividend of $0.73. This translates into an annualized dividend of $3.00, yielding approximately 3.37%. The ex-dividend date is also March 12th, with the current dividend payout ratio at 44.91%.

Company Overview

Principal Financial Group, Inc. delivers retirement, asset management, and insurance solutions for businesses, individuals, and institutional clients globally. It operates across various segments, including Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection.

PFG, Investors, Holdings