Empowered Funds LLC reduced its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 74.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,181 shares of the company's stock after selling 12,147 shares during the quarter. Empowered Funds LLC's holdings in Principal Financial Group were worth $324,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Principal Financial Group by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after purchasing an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock valued at $120,577,000 after buying an additional 18,801 shares during the last quarter. Barclays PLC lifted its stake in shares of Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company's stock valued at $69,293,000 after buying an additional 88,179 shares during the period. AustralianSuper Pty Ltd boosted its position in Principal Financial Group by 27.2% during the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock worth $46,404,000 after acquiring an additional 115,569 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock worth $43,367,000 after acquiring an additional 146,473 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.
Principal Financial Group Trading Down 2.5 %
PFG traded down $2.18 during trading on Friday, hitting $84.38. 1,861,796 shares of the company's stock were exchanged, compared to its average volume of 1,518,853. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The stock has a 50 day moving average price of $80.58 and a 200 day moving average price of $82.34. The firm has a market cap of $19.30 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.
Principal Financial Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.56%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group's dividend payout ratio is 43.71%.
Analyst Ratings Changes
A number of research analysts have weighed in on PFG shares. Morgan Stanley reissued an "underweight" rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Barclays lifted their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday. Finally, BMO Capital Markets began coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $85.92.
View Our Latest Stock Report on Principal Financial Group
Principal Financial Group Company Profile
(
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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