State of Alaska Department of Revenue Has $1.86 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

State of Alaska Department of Revenue lessened its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,994 shares of the company's stock after selling 10,485 shares during the period. State of Alaska Department of Revenue's holdings in Principal Financial Group were worth $1,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PFG. Metis Global Partners LLC raised its holdings in shares of Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company's stock worth $965,000 after acquiring an additional 533 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company's stock worth $2,137,000 after acquiring an additional 9,933 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth $771,000. Columbus Macro LLC raised its holdings in shares of Principal Financial Group by 46.7% during the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock worth $1,986,000 after acquiring an additional 8,169 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company's stock valued at $1,403,000 after buying an additional 12,768 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on PFG shares. Barclays raised 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. 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. Morgan Stanley restated an "underweight" rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday. Finally, BMO Capital Markets started coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price on the stock. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $85.54.

Principal Financial Group Stock Performance

Shares of NYSE:PFG traded down $1.30 during midday trading on Friday, hitting $85.65. The company's stock had a trading volume of 1,669,765 shares, compared to its average volume of 1,392,383. The stock has a market capitalization of $19.59 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.79 and a beta of 1.22. The stock's 50 day simple moving average is $80.13 and its 200 day simple moving average is $82.15. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. The ex-dividend date is 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 3.50%. Principal Financial Group's dividend payout ratio (DPR) 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.