Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Jump Financial LLC

Jump Financial LLC reduced its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 72.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,672 shares of the company's stock after selling 24,832 shares during the quarter. Jump Financial LLC's holdings in Principal Financial Group were worth $749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock valued at $422,074,000 after buying an additional 52,410 shares during the last quarter. Norges Bank acquired a new stake in Principal Financial Group in the 4th quarter valued at about $217,021,000. JPMorgan Chase & Co. lifted its stake 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 worth $211,534,000 after purchasing an additional 118,722 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Principal Financial Group by 3.2% during 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. Finally, Amundi grew its position in shares of Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after purchasing an additional 264,383 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Trading Up 3.7 %

Shares of NYSE PFG opened at $72.85 on Wednesday. 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 stock has a market capitalization of $16.39 billion, a PE ratio of 10.91, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The stock has a fifty day simple moving average of $81.21 and a 200-day simple moving average of $82.42.

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 given a $0.75 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group's payout ratio is currently 44.91%.

Analyst Ratings Changes

A number of research firms have weighed in on PFG. Morgan Stanley lowered their price objective on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. Barclays lowered their price target on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods lifted 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. 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. Finally, BMO Capital Markets started coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $84.69.

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.

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