Schroder Investment Management Group Sells 24,929 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Schroder Investment Management Group trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 27.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,036 shares of the company's stock after selling 24,929 shares during the period. Schroder Investment Management Group's holdings in Principal Financial Group were worth $5,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Allstate Corp purchased a new stake in Principal Financial Group during the 4th quarter valued at $520,000. Orion Portfolio Solutions LLC raised its holdings in Principal Financial Group by 23.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 3,438 shares of the company's stock valued at $266,000 after buying an additional 644 shares during the period. Pictet Asset Management Holding SA raised its holdings in Principal Financial Group by 18.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 145,275 shares of the company's stock valued at $11,246,000 after buying an additional 22,699 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Principal Financial Group by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 101,454 shares of the company's stock valued at $7,854,000 after buying an additional 519 shares during the period. Finally, Norges Bank bought a new position in Principal Financial Group in the 4th quarter valued at $217,021,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

PFG has been the topic of several research analyst reports. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. 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 report on Wednesday, February 19th. BMO Capital Markets initiated coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective on the stock. UBS Group upped their price objective on Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Finally, Barclays upped their price objective on 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $86.57.

Principal Financial Group Stock Down 3.8 %

PFG stock traded down $2.93 during trading on Thursday, reaching $74.34. 168,374 shares of the company traded hands, compared to its average volume of 1,243,504. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. The business has a 50 day simple moving average of $83.13 and a 200 day simple moving average of $83.26. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 4.04%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.

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.