Proficio Capital Partners LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 59,838 shares of the company's stock, valued at approximately $4,632,000.
Other hedge funds have also made changes to their positions in the company. KBC Group NV grew its stake in Principal Financial Group by 1.8% in the 3rd quarter. KBC Group NV now owns 58,464 shares of the company's stock valued at $5,022,000 after acquiring an additional 1,046 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Principal Financial Group by 5.0% in the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company's stock valued at $965,000 after purchasing an additional 533 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Principal Financial Group by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 37,729 shares of the company's stock worth $3,241,000 after purchasing an additional 2,081 shares in the last quarter. Empirical Finance LLC increased its stake in shares of Principal Financial Group by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company's stock worth $676,000 after purchasing an additional 142 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company's stock worth $1,403,000 after purchasing an additional 12,768 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. Morgan Stanley reiterated an "underweight" rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Finally, Barclays boosted 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 report 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and a consensus target price of $85.92.
Get Our Latest Analysis on PFG
Principal Financial Group Trading Down 1.0 %
Shares of PFG traded down $0.87 during trading hours on Friday, hitting $83.26. The stock had a trading volume of 2,518,773 shares, compared to its average volume of 1,136,362. The company's fifty day simple moving average is $83.51 and its 200 day simple moving average is $83.43. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. 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 firm has a market cap of $18.78 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.76 and a beta of 1.17.
Principal Financial Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group's payout ratio is currently 44.91%.
About Principal Financial Group
(
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.
Featured Articles
Before you consider Principal Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Principal Financial Group wasn't on the list.
While Principal Financial Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
