New York State Teachers Retirement System decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 179,282 shares of the company's stock after selling 4,028 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Principal Financial Group worth $13,878,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. AMF Tjanstepension AB raised its holdings in shares of Principal Financial Group by 28.7% during the third quarter. AMF Tjanstepension AB now owns 290,723 shares of the company's stock valued at $24,997,000 after purchasing an additional 64,915 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Principal Financial Group by 2,192.3% during the third quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the company's stock valued at $256,000 after purchasing an additional 2,850 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Principal Financial Group by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,705 shares of the company's stock worth $2,036,000 after purchasing an additional 257 shares in the last quarter. Blue Trust Inc. increased its stake in Principal Financial Group by 76.8% in the 3rd quarter. Blue Trust Inc. now owns 2,748 shares of the company's stock valued at $216,000 after buying an additional 1,194 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Principal Financial Group by 36.3% during the 3rd quarter. Raymond James & Associates now owns 116,364 shares of the company's stock worth $9,996,000 after buying an additional 30,973 shares in the last quarter. Institutional investors own 75.08% of the company's stock.
Principal Financial Group Stock Performance
Shares of NYSE PFG traded down $2.18 during mid-day trading on Friday, hitting $84.38. The company had a trading volume of 1,861,796 shares, compared to its average volume of 1,518,853. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a market capitalization of $19.30 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.75 and a beta of 1.22. The stock's 50-day moving average price is $80.69 and its 200-day moving average price is $82.42.
Principal Financial Group Increases Dividend
The business also recently announced 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 3.56%. The ex-dividend date is Wednesday, March 12th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is presently 43.71%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Barclays upped their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. Morgan Stanley reaffirmed an "underweight" rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Wells Fargo & Company upped their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Principal Financial Group has an average rating of "Hold" and a consensus target price of $85.92.
Check Out Our Latest Stock Analysis on PFG
Principal Financial Group Company 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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