Capital Research Global Investors Acquires 9,989 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Capital Research Global Investors raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,967,857 shares of the company's stock after purchasing an additional 9,989 shares during the period. Capital Research Global Investors owned approximately 2.17% of Principal Financial Group worth $384,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in shares of Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock worth $404,000 after buying an additional 132 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock worth $208,000 after acquiring an additional 138 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Principal Financial Group by 9.6% in the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock worth $134,000 after acquiring an additional 151 shares during the last quarter. Cidel Asset Management Inc. lifted its holdings in shares of Principal Financial Group by 6.3% in the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company's stock worth $204,000 after acquiring an additional 156 shares during the last quarter. Finally, Hartford Funds Management Co LLC grew its holdings in shares of Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company's stock valued at $870,000 after purchasing an additional 161 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PFG shares. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. UBS Group increased their price target on Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Barclays reduced their price objective on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Morgan Stanley dropped their target price on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group currently has a consensus rating of "Hold" and a consensus target price of $84.69.

Principal Financial Group Trading Up 1.3 %

PFG stock traded up $0.96 during trading on Thursday, hitting $75.00. The company had a trading volume of 1,987,183 shares, compared to its average volume of 1,288,761. The stock has a market cap of $16.87 billion, a PE ratio of 11.23, a PEG ratio of 0.76 and a beta of 1.01. The business has a 50-day moving average of $80.98 and a 200-day moving average of $82.36. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 4.05%. Principal Financial Group's dividend payout ratio is 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.