Hartford Funds Management Co LLC Acquires 161 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Hartford Funds Management Co LLC grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,241 shares of the company’s stock after acquiring an additional 161 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Principal Financial Group were worth $870,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PFG. Farther Finance Advisors LLC boosted its position in shares of Principal Financial Group by 4.1% in the third quarter. Farther Finance Advisors LLC now owns 6,584 shares of the company’s stock valued at $566,000 after acquiring an additional 259 shares during the period. Janney Montgomery Scott LLC lifted its position in Principal Financial Group by 15.6% during the third quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company’s stock worth $1,870,000 after purchasing an additional 2,933 shares during the period. Harbor Capital Advisors Inc. lifted its position in Principal Financial Group by 2.9% during the third quarter. Harbor Capital Advisors Inc. now owns 5,091 shares of the company’s stock worth $437,000 after purchasing an additional 144 shares during the period. Asset Management One Co. Ltd. lifted its position in Principal Financial Group by 15.4% during the third quarter. Asset Management One Co. Ltd. now owns 109,100 shares of the company’s stock worth $9,372,000 after purchasing an additional 14,588 shares during the period. Finally, 1834 Investment Advisors Co. bought a new stake in Principal Financial Group during the third quarter worth about $202,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $86.64 on Friday. The business has a 50 day moving average of $82.41 and a 200-day moving average of $83.15. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market capitalization of $19.54 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 3.46%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PFG shares. Keefe, Bruyette & Woods upped their price objective 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. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada reaffirmed 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. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued 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 given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.92.

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.