Allstate Corp bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,714 shares of the company's stock, valued at approximately $520,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at $29,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group during the fourth quarter valued at $33,000. Sugarloaf Wealth Management LLC boosted its position in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after purchasing an additional 195 shares during the period. Golden State Wealth Management LLC purchased a new position in Principal Financial Group in the 4th quarter worth about $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in Principal Financial Group during the 4th quarter worth about $54,000. 75.08% of the stock is currently owned by institutional investors.
Principal Financial Group Stock Down 8.0 %
Shares of PFG stock traded down $6.87 on Thursday, hitting $79.32. The company's stock had a trading volume of 1,412,282 shares, compared to its average volume of 1,221,339. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. The firm's fifty day moving average price is $84.35 and its 200-day moving average price is $83.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.
Principal Financial Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a $0.75 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is currently 44.91%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price target for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. UBS Group boosted their target price on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. Morgan Stanley reissued an "underweight" rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, Wells Fargo & Company raised their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of "Hold" and an average target price of $86.57.
View Our Latest Report on PFG
About Principal Financial Group
(
Free Report)
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.
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