Inceptionr LLC Purchases Shares of 17,116 Principal Financial Group, Inc. (NYSE:PFG)

Inceptionr LLC purchased a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,116 shares of the company's stock, valued at approximately $1,325,000.

Several other hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in Principal Financial Group by 4.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,584 shares of the company's stock valued at $566,000 after purchasing an additional 259 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Principal Financial Group by 15.6% in the third quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company's stock valued at $1,870,000 after acquiring an additional 2,933 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Principal Financial Group by 2.9% in the third quarter. Harbor Capital Advisors Inc. now owns 5,091 shares of the company's stock valued at $437,000 after acquiring an additional 144 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Principal Financial Group by 15.4% during the third quarter. Asset Management One Co. Ltd. now owns 109,100 shares of the company's stock worth $9,372,000 after acquiring an additional 14,588 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in Principal Financial Group in the 3rd quarter worth about $151,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, February 7th. 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 report on Thursday, December 5th. Wells Fargo & Company lifted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a report on Wednesday, February 19th. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their price target 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. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $85.92.

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Principal Financial Group Price Performance

NYSE PFG traded down $1.93 during trading on Monday, hitting $83.68. 1,855,543 shares of the company's stock were exchanged, compared to its average volume of 1,566,494. The stock's 50 day moving average price is $82.56 and its two-hundred day moving average price is $83.28. The company has a market cap of $18.88 billion, a PE ratio of 12.53, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.59%. Principal Financial Group's dividend payout ratio (DPR) is currently 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.