Prudential Financial Inc. Reduces Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Prudential Financial Inc. lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,991 shares of the company's stock after selling 15,771 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of Principal Financial Group worth $9,056,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Cerity Partners LLC boosted its position in shares of Principal Financial Group by 12.3% during the third quarter. Cerity Partners LLC now owns 30,042 shares of the company's stock worth $2,581,000 after buying an additional 3,281 shares during the period. Larson Financial Group LLC increased its position in shares of Principal Financial Group by 132.8% during the 3rd quarter. Larson Financial Group LLC now owns 675 shares of the company's stock worth $58,000 after purchasing an additional 385 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Principal Financial Group by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 12,004 shares of the company's stock worth $1,031,000 after purchasing an additional 291 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Principal Financial Group by 18.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,582 shares of the company's stock valued at $9,928,000 after buying an additional 17,931 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Principal Financial Group by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 37,141 shares of the company's stock worth $3,190,000 after purchasing an additional 500 shares during the period. Institutional investors own 75.08% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Wells Fargo & Company lifted their target price 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. Morgan Stanley reissued an "underweight" rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays increased their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $85.92.

Principal Financial Group Price Performance

Shares of PFG traded up $1.31 during trading hours on Monday, reaching $84.37. 1,160,284 shares of the stock traded hands, compared to its average volume of 1,220,114. The company has a market cap of $19.03 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company's 50-day moving average price is $84.15 and its two-hundred day moving average price is $83.69. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.98. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.56%. Principal Financial Group's dividend payout ratio is 44.91%.

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.