Vanguard Group Inc. decreased its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,430,527 shares of the company's stock after selling 75,419 shares during the quarter. Vanguard Group Inc. owned 11.99% of Principal Financial Group worth $2,123,397,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in PFG. Cerity Partners LLC boosted its stake in Principal Financial Group by 12.3% during the 3rd quarter. Cerity Partners LLC now owns 30,042 shares of the company's stock valued at $2,581,000 after purchasing an additional 3,281 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Principal Financial Group by 132.8% during the third quarter. Larson Financial Group LLC now owns 675 shares of the company's stock valued at $58,000 after buying an additional 385 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Principal Financial Group by 1.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 27,523 shares of the company's stock worth $2,364,000 after buying an additional 457 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in Principal Financial Group by 7.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,006 shares of the company's stock worth $258,000 after buying an additional 218 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Principal Financial Group in the 3rd quarter worth about $43,000. Institutional investors own 75.08% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented 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 target for the company. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. Barclays increased their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Morgan Stanley reaffirmed an "underweight" rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. 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 given a strong buy rating to the stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of "Hold" and a consensus target price of $85.92.
Get Our Latest Analysis on PFG
Principal Financial Group Stock Performance
Shares of PFG stock traded up $1.31 during trading hours on Monday, reaching $84.37. 1,160,284 shares of the company traded hands, compared to its average volume of 1,220,114. The firm has a 50-day moving average price of $84.21 and a 200 day moving average price of $83.72. The company has a market cap of $19.03 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98.
Principal Financial Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.56%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.
Principal Financial Group Profile
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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.
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