KLP Kapitalforvaltning AS Invests $6.14 Million in Principal Financial Group, Inc. (NYSE:PFG)

KLP Kapitalforvaltning AS purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,345 shares of the company's stock, valued at approximately $6,142,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Curio Wealth LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group during the fourth quarter worth about $33,000. Truvestments Capital LLC purchased a new position in Principal Financial Group in the third quarter valued at about $43,000. Sugarloaf Wealth Management LLC lifted its position in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Trading Down 2.4 %

PFG stock traded down $2.02 during trading on Friday, reaching $83.06. 1,357,092 shares of the stock traded hands, compared to its average volume of 1,220,353. The firm has a market capitalization of $18.74 billion, a PE ratio of 12.43, a P/E/G ratio of 0.76 and a beta of 1.17. 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 business's 50 day moving average price is $84.15 and its 200-day moving average price is $83.66. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.98.

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Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio is 44.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. Morgan Stanley reissued an "underweight" rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, February 7th. Finally, 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 report on Thursday, January 16th. 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $85.92.

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.