Tredje AP fonden Sells 18,841 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Tredje AP fonden trimmed its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,842 shares of the company's stock after selling 18,841 shares during the quarter. Tredje AP fonden's holdings in Principal Financial Group were worth $1,459,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PFG. Venturi Wealth Management LLC raised its stake in shares of Principal Financial Group by 24.0% in the third quarter. Venturi Wealth Management LLC now owns 1,226 shares of the company's stock valued at $105,000 after purchasing an additional 237 shares in the last quarter. Prime Capital Investment Advisors LLC raised its stake in Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company's stock worth $546,000 after acquiring an additional 142 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new position in Principal Financial Group during the third quarter worth $57,000. KBC Group NV raised its stake in Principal Financial Group by 1.8% during the third quarter. KBC Group NV now owns 58,464 shares of the company's stock worth $5,022,000 after acquiring an additional 1,046 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in 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. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several brokerages have recently commented on PFG. Wells Fargo & Company increased their target price on Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. BMO Capital Markets began 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. Finally, 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. Four equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of "Hold" and an average target price of $85.92.

Principal Financial Group Stock Up 1.4 %

Shares of NYSE PFG traded up $1.17 during mid-day trading on Wednesday, reaching $84.41. 1,190,490 shares of the company's stock were exchanged, compared to its average volume of 1,134,433. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $83.28 and a 200 day simple moving average of $83.42. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.98.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.55%. Principal Financial Group's payout ratio is 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.