National Pension Service reduced its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 350,543 shares of the company's stock after selling 27,049 shares during the quarter. National Pension Service owned about 0.15% of Principal Financial Group worth $27,136,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of PFG. KBC Group NV increased its holdings in Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company's stock valued at $22,555,000 after buying an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company's stock valued at $40,041,000 after purchasing an additional 215,045 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock valued at $43,367,000 after purchasing an additional 146,473 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company's stock valued at $13,112,000 after purchasing an additional 136,021 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in Principal Financial Group by 23.2% during 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 during the last quarter. 75.08% of the stock is owned by institutional investors.
Principal Financial Group Stock Up 1.7 %
PFG traded up $1.44 during mid-day trading on Wednesday, reaching $87.06. 1,526,178 shares of the stock were exchanged, compared to its average volume of 1,548,623. 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 $19.64 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a 50 day moving average price of $82.24 and a two-hundred day moving average price of $83.12. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97.
Principal Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.45%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's payout ratio is currently 44.91%.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised 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. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their price objective 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. Finally, Barclays lifted their price objective on shares of 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 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.com, the company has a consensus rating of "Hold" and a consensus price target of $85.92.
Check Out Our Latest Stock Analysis on Principal Financial Group
Principal Financial Group Profile
(
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.
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