Zurcher Kantonalbank Zurich Cantonalbank Has $11.96 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,534 shares of the company's stock after buying an additional 38,952 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Principal Financial Group worth $11,962,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PFG. Janney Montgomery Scott LLC lifted its holdings in Principal Financial Group by 15.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company's stock valued at $1,870,000 after purchasing an additional 2,933 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Principal Financial Group by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 231,277 shares of the company's stock valued at $19,867,000 after purchasing an additional 6,817 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Principal Financial Group by 1.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,257 shares of the company's stock valued at $1,311,000 after purchasing an additional 277 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Principal Financial Group by 24.0% during the 3rd 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 during the last quarter. Finally, Versor Investments LP acquired a new stake in Principal Financial Group during the 3rd quarter valued at $825,000. Institutional investors and hedge funds own 75.08% of the company's stock.

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Principal Financial Group Price Performance

Principal Financial Group stock traded up $2.24 during midday trading on Friday, reaching $82.78. The company's stock had a trading volume of 880,469 shares, compared to its average volume of 1,558,026. The stock has a market cap of $18.67 billion, a PE ratio of 12.39, a price-to-earnings-growth 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 50-day moving average price of $83.06 and a 200-day moving average price of $83.36. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97.

Principal Financial Group Increases Dividend

The business also recently disclosed 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. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's payout ratio is currently 44.91%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PFG shares. Morgan Stanley reaffirmed an "underweight" rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Wells Fargo & Company lifted 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. Barclays lifted their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, February 7th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted 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. Four analysts have rated the stock with a sell rating, six have issued 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 a consensus rating of "Hold" and an average target price of $85.92.

Principal Financial Group 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.