Korea Investment CORP Decreases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Korea Investment CORP reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,366 shares of the company's stock after selling 8,000 shares during the period. Korea Investment CORP owned 0.11% of Principal Financial Group worth $19,381,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Amundi grew its position in shares of Principal Financial Group by 24.1% in 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 last quarter. KBC Group NV lifted its stake in Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company's stock worth $22,555,000 after acquiring an additional 232,915 shares during the period. Raymond James Financial Inc. purchased a new stake in Principal Financial Group in the fourth quarter worth $15,821,000. Quantbot Technologies LP increased its position in Principal Financial Group by 2,064.3% during the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after purchasing an additional 141,447 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in Principal Financial Group by 23.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company's stock worth $51,509,000 after purchasing an additional 125,198 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

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Principal Financial Group Stock Up 1.6 %

Principal Financial Group stock traded up $1.31 during mid-day trading on Monday, hitting $84.37. The company had a trading volume of 1,160,284 shares, compared to its average volume of 1,220,114. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98. The company has a market capitalization of $19.03 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The stock's 50 day moving average price is $84.15 and its two-hundred day moving average price is $83.69. 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.56%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. Principal Financial Group's dividend payout ratio is 44.91%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PFG. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research note on Wednesday, February 19th. Barclays lifted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $85.92.

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.