Arrowstreet Capital Limited Partnership Sells 21,128 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Arrowstreet Capital Limited Partnership lowered its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 31.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,082 shares of the company's stock after selling 21,128 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Principal Financial Group were worth $3,567,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Principal Financial Group in the 4th quarter worth approximately $217,021,000. Amundi boosted its holdings in shares of Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after buying an additional 264,383 shares during the period. KBC Group NV boosted its holdings in shares of Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company's stock worth $22,555,000 after buying an additional 232,915 shares during the period. Raymond James Financial Inc. acquired a new position in Principal Financial Group in the 4th quarter valued at $15,821,000. Finally, Quantbot Technologies LP raised its holdings in Principal Financial Group by 2,064.3% in the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock worth $11,480,000 after acquiring an additional 141,447 shares during the period. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PFG shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company dropped their price target on Principal Financial Group from $74.00 to $68.00 and set an "underweight" rating on the stock in a research report on Thursday. Barclays lowered their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price for the company. Finally, Morgan Stanley decreased their price target on shares of Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and a consensus target price of $84.69.

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Principal Financial Group Price Performance

PFG stock traded up $1.58 during trading on Monday, hitting $74.19. The company had a trading volume of 122,441 shares, compared to its average volume of 1,252,726. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $82.79 and a two-hundred day moving average price of $83.06. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The company has a market cap of $16.69 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were issued a $0.75 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 4.04%. Principal Financial Group's dividend payout ratio is presently 44.91%.

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.