Prana Capital Management LP Cuts Position in Principal Financial Group, Inc. $PFG

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Prana Capital Management LP reduced its stake in Principal Financial Group (NASDAQ:PFG) by 6.9% in Q3, selling 17,891 shares and retaining 241,339 shares valued at $20.01 million. Despite this, other institutions like Nordea, Mediolanum, and Capital Management Corp VA increased their holdings, and Rakuten and Capital Fund Management initiated new stakes, bringing total institutional ownership to 75.08%. Analysts maintain a “Hold” rating with an average target price of $94.11, and the company recently announced a quarterly dividend of $0.80 per share.

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