Geode Capital Management LLC Has $422.07 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Geode Capital Management LLC lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,466,587 shares of the company's stock after purchasing an additional 52,410 shares during the period. Geode Capital Management LLC owned approximately 2.39% of Principal Financial Group worth $422,074,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PFG. Norges Bank acquired a new stake in Principal Financial Group in the 4th quarter valued at approximately $217,021,000. JPMorgan Chase & Co. boosted its holdings in Principal Financial Group by 5.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after purchasing an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. grew its position in Principal Financial Group by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company's stock worth $112,129,000 after purchasing an additional 44,818 shares during the last quarter. Amundi raised its position in shares of Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after buying an additional 264,383 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Principal Financial Group by 12.3% in the third quarter. Barclays PLC now owns 806,672 shares of the company's stock valued at $69,293,000 after buying an additional 88,179 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

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Principal Financial Group Stock Down 7.1 %

Shares of NYSE PFG traded down $5.45 during mid-day trading on Thursday, reaching $71.82. 327,438 shares of the company's stock were exchanged, compared to its average volume of 1,521,517. 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 fifty day simple moving average of $83.13 and a 200 day simple moving average of $83.26. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.97. The firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a $0.75 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 4.18%. Principal Financial Group's payout ratio is presently 44.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PFG shares. BMO Capital Markets began coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price on the stock. Wells Fargo & Company lifted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. UBS Group upped their price target 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, April 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 12th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.