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

Korea Investment CORP cut 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 filing 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 approximately 0.11% of Principal Financial Group worth $19,381,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Weaver C. Barksdale & Associates Inc. boosted its position in shares of Principal Financial Group by 13.7% during the fourth quarter. Weaver C. Barksdale & Associates Inc. now owns 22,900 shares of the company's stock valued at $1,774,000 after buying an additional 2,760 shares during the period. LPL Financial LLC boosted its holdings in Principal Financial Group by 4.4% during the 4th quarter. LPL Financial LLC now owns 106,747 shares of the company's stock valued at $8,263,000 after acquiring an additional 4,478 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Principal Financial Group during the 4th quarter valued at $6,142,000. Mizuho Securities USA LLC grew its position in Principal Financial Group by 44.4% in the 4th quarter. Mizuho Securities USA LLC now owns 19,944 shares of the company's stock valued at $1,544,000 after acquiring an additional 6,128 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Principal Financial Group in the fourth quarter worth $271,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Down 7.0 %

Shares of NYSE:PFG traded down $6.05 on Thursday, reaching $80.14. The company had a trading volume of 254,402 shares, compared to its average volume of 1,456,771. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $18.08 billion, a PE ratio of 12.00, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The firm's 50 day simple moving average is $84.35 and its 200-day simple moving average is $83.76.

Principal Financial Group Increases Dividend

The company also recently announced 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 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 dividend on an annualized basis and a yield of 3.74%. Principal Financial Group's dividend payout ratio is presently 44.91%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. UBS Group raised their target price on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a "neutral" rating in a research report on Wednesday. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $86.57.

Principal Financial Group Company 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.