Massachusetts Financial Services Co. MA lessened its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,142 shares of the company's stock after selling 8,991 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.20% of Principal Financial Group worth $35,387,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Curio Wealth LLC bought a new position in Principal Financial Group during the 4th quarter worth approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter worth $33,000. Sugarloaf Wealth Management LLC boosted its position in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Principal Financial Group in the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $54,000. Institutional investors own 75.08% of the company's stock.
Principal Financial Group Stock Performance
Shares of Principal Financial Group stock traded down $5.57 during trading on Thursday, hitting $71.70. 327,438 shares of the company's stock were exchanged, compared to its average volume of 1,244,014. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.76 and a beta of 1.01. The business has a 50-day simple moving average of $83.13 and a 200-day simple moving average of $83.26.
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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 4.18%. Principal Financial Group's dividend payout ratio is 44.91%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on PFG shares. Wells Fargo & Company raised their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Barclays boosted their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $86.57.
Get Our Latest Stock Report on PFG
About Principal Financial Group
(
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.
See Also
Before you consider Principal Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Principal Financial Group wasn't on the list.
While Principal Financial Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
