Wellington Management Group LLP Sells 179,405 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Wellington Management Group LLP cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,191,838 shares of the company's stock after selling 179,405 shares during the quarter. Wellington Management Group LLP owned 1.86% of Principal Financial Group worth $324,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its position in Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock worth $404,000 after purchasing an additional 132 shares during the period. Leavell Investment Management Inc. lifted its holdings in shares of Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock worth $208,000 after acquiring an additional 138 shares during the period. CENTRAL TRUST Co boosted its position in shares of Principal Financial Group by 9.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock worth $134,000 after acquiring an additional 151 shares in the last quarter. Cidel Asset Management Inc. increased its stake in Principal Financial Group by 6.3% in the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company's stock valued at $204,000 after acquiring an additional 156 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its position in Principal Financial Group by 1.5% during the fourth quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company's stock valued at $870,000 after purchasing an additional 161 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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Principal Financial Group Trading Down 8.0 %

Shares of PFG traded down $6.87 during mid-day trading on Thursday, reaching $79.32. 1,412,282 shares of the company were exchanged, compared to its average volume of 1,221,339. The business has a 50 day simple moving average of $84.30 and a two-hundred day simple moving average of $83.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a market capitalization of $17.89 billion, a PE ratio of 11.87, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.75 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.78%. Principal Financial Group's dividend payout ratio (DPR) is presently 44.91%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target on the stock. Wells Fargo & Company raised their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. UBS Group raised their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $86.57.

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.