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

Manchester Capital Management LLC reduced its position in Principal Financial Group, Inc. (NYSE:PFG) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,225 shares of the company’s stock after selling 127 shares during the period. Manchester Capital Management LLC’s holdings in Principal Financial Group were worth $95,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new position in Principal Financial Group in the 3rd quarter valued at about $33,000. Truvestments Capital LLC purchased a new position in Principal Financial Group in the 3rd quarter valued at about $43,000. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the 3rd quarter valued at about $45,000. Sugarloaf Wealth Management LLC boosted its position in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Principal Financial Group in the 3rd quarter valued at about $50,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFG. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target 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. 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 research report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Barclays increased their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average target price of $85.54.

Principal Financial Group Price Performance

PFG opened at $85.65 on Friday. The company’s 50-day moving average price is $80.13 and its 200 day moving average price is $82.15. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The firm has a market cap of $19.59 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is presently 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.