National Bank of Canada FI Lowers Position in Principal Financial Group, Inc. (NYSE:PFG)

National Bank of Canada FI lowered its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,071 shares of the company's stock after selling 9,684 shares during the quarter. National Bank of Canada FI owned approximately 0.05% of Principal Financial Group worth $9,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. acquired a new position in Principal Financial Group in the third quarter valued at $382,000. Investment Management Corp of Ontario boosted its position in shares of Principal Financial Group by 47.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 7,720 shares of the company's stock valued at $663,000 after purchasing an additional 2,500 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Principal Financial Group during the third quarter worth approximately $212,000. IHT Wealth Management LLC purchased a new stake in Principal Financial Group in the third quarter valued at approximately $643,000. Finally, Quantinno Capital Management LP grew its position in shares of Principal Financial Group by 10.1% during the third quarter. Quantinno Capital Management LP now owns 45,194 shares of the company's stock worth $3,882,000 after acquiring an additional 4,145 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of NYSE:PFG traded down $4.60 on Thursday, hitting $72.67. The company had a trading volume of 283,415 shares, compared to its average volume of 1,243,822. The company has a market cap of $16.39 billion, a PE ratio of 10.90, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. 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 business has a 50 day moving average of $83.13 and a 200 day moving average of $83.26.

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Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a $0.75 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is currently 44.91%.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of recent research reports. Royal Bank of Canada restated 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. Keefe, Bruyette & Woods lifted 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. Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their target price on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets assumed coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 target price for the company. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently 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.