DnB Asset Management AS Sells 52,327 Shares of Principal Financial Group, Inc. (NYSE:PFG)

DnB Asset Management AS lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 30.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,933 shares of the company's stock after selling 52,327 shares during the period. DnB Asset Management AS owned about 0.05% of Principal Financial Group worth $9,361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cerity Partners LLC increased its holdings in shares of Principal Financial Group by 12.3% in the third quarter. Cerity Partners LLC now owns 30,042 shares of the company's stock valued at $2,581,000 after buying an additional 3,281 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Principal Financial Group by 132.8% in the 3rd quarter. Larson Financial Group LLC now owns 675 shares of the company's stock worth $58,000 after acquiring an additional 385 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Principal Financial Group by 2.5% during the third quarter. Glenmede Trust Co. NA now owns 12,004 shares of the company's stock worth $1,031,000 after purchasing an additional 291 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Principal Financial Group by 18.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,582 shares of the company's stock valued at $9,928,000 after purchasing an additional 17,931 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Principal Financial Group by 1.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 37,141 shares of the company's stock valued at $3,190,000 after purchasing an additional 500 shares during the period. 75.08% of the stock is currently owned by institutional investors.

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Principal Financial Group Stock Up 1.6 %

NYSE PFG traded up $1.31 on Monday, reaching $84.37. The stock had a trading volume of 1,160,284 shares, compared to its average volume of 1,220,114. 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 1 year low of $72.21 and a 1 year high of $91.98. The business has a 50 day moving average price of $84.21 and a 200 day moving average price of $83.72. The company has a market capitalization of $19.03 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a $0.75 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. Principal Financial Group's payout ratio is presently 44.91%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, February 19th. Morgan Stanley restated an "underweight" rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on shares of 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. BMO Capital Markets initiated 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 on the stock. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Four 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.