Hartford Investment Management Co. Has $1.01 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Hartford Investment Management Co. decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,062 shares of the company’s stock after selling 255 shares during the period. Hartford Investment Management Co.’s holdings in Principal Financial Group were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Leavell Investment Management Inc. increased its position in shares of 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 purchasing an additional 138 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Principal Financial Group during the fourth quarter worth $98,000. Compass Financial Services Inc acquired a new position in Principal Financial Group during the fourth quarter worth $89,000. WCM Investment Management LLC raised its position in Principal Financial Group by 112.4% during the fourth quarter. WCM Investment Management LLC now owns 6,544 shares of the company’s stock worth $505,000 after acquiring an additional 3,463 shares in the last quarter. Finally, Entropy Technologies LP lifted its stake in Principal Financial Group by 630.3% in the fourth quarter. Entropy Technologies LP now owns 25,014 shares of the company’s stock valued at $1,936,000 after acquiring an additional 21,589 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Down 1.5 %

Shares of PFG stock opened at $85.65 on Friday. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The stock’s fifty day simple moving average is $80.10 and its 200 day simple moving average is $82.12. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $19.59 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 43.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays upped their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Wells Fargo & Company reduced their target price on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Piper Sandler raised their price target on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $85.54.

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.