Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by LGT Group Foundation

LGT Group Foundation trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 33.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the company's stock after selling 3,000 shares during the quarter. LGT Group Foundation's holdings in Principal Financial Group were worth $464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in Principal Financial Group during the third quarter worth about $33,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Prospera Private Wealth LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at approximately $45,000. Finally, Sugarloaf Wealth Management LLC raised its position in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after purchasing an additional 195 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 1.2 %

Shares of PFG traded down $1.03 during midday trading on Friday, reaching $85.61. The stock had a trading volume of 1,662,380 shares, compared to its average volume of 1,559,914. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company's fifty day simple moving average is $82.41 and its two-hundred day simple moving average is $83.15. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

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Principal Financial Group Increases Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.50%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PFG. Barclays raised their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, February 7th. Royal Bank of Canada restated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted 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 research note on Wednesday, February 12th. 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 price target on the stock. Finally, 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 report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $85.92.

About Principal Financial Group

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.