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Stocks•6 May 2026•

1 min read

Principal Financial Group Rebalances Portfolio with Qualcomm Boost and STERIS Cut

Key Facts

1Principal Financial Group Inc. reduced its stake in Sherwin-Williams by 9.9% during the fourth quarter.

2The company reported Q1 earnings of $2.35 per share, beating analyst estimates.

3Q1 revenue reached $5.67 billion with optimistic guidance issued for FY2026.

Recent fourth-quarter filings reveal broader portfolio adjustments by Principal Financial Group Inc., highlighted by a 2.7% stake increase in Qualcomm Incorporated through the purchase of 33,925 additional shares. This bullish move aligns with Qualcomm's announcement of a massive $20 billion share buyback program and an increased quarterly dividend. Conversely, the group reduced its exposure to STERIS plc by 9.6%, offloading 93,864 shares, alongside a previously reported 9.9% reduction in Sherwin-Williams. Despite the stake reduction, Sherwin-Williams maintained strong fundamentals with a first-quarter earnings beat of $2.35 per share and revenue of $5.67 billion. These institutional shifts suggest a strategic rebalancing toward high-yield capital return programs and specific sector rotations. Market analysts view the increased Qualcomm position as a pivot toward companies with aggressive shareholder return policies.

29 days ago

Version History

3 additional sources confirmed this story

Version 129 days ago

What changed: The story was updated to include new data regarding the group's increased stake in Qualcomm following its $20 billion buyback announcement, alongside a stake reduction in STERIS plc.