Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 9.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,754 shares of the company’s stock after selling 1,898 shares during the quarter. QRG Capital Management Inc.’s holdings in Principal Financial Group were worth $1,374,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Metis Global Partners LLC increased its holdings in Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after purchasing an additional 533 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at $771,000. Columbus Macro LLC boosted its stake in Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after acquiring an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after acquiring an additional 12,768 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Down 0.4 %

PFG stock opened at $88.64 on Tuesday. The stock has a market cap of $19.99 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. The firm’s 50-day simple moving average is $81.90 and its 200 day simple moving average is $83.04. 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 quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. 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 dividend yield of 3.38%. Principal Financial Group’s payout ratio is currently 44.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley restated an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Wells Fargo & Company raised their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target 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.