Bleakley Financial Group LLC Trims Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Bleakley Financial Group LLC lessened its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,798 shares of the company’s stock after selling 341 shares during the period. Bleakley Financial Group LLC’s holdings in Principal Financial Group were worth $371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after buying an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Principal Financial Group by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock valued at $120,577,000 after buying an additional 18,801 shares during the period. Barclays PLC lifted its stake in shares of Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after buying an additional 88,179 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of Principal Financial Group by 27.2% during the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock valued at $46,404,000 after buying an additional 115,569 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after buying an additional 146,473 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

PFG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. BMO Capital Markets began 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 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have given 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, Principal Financial Group presently has an average rating of “Hold” and an average price target of $85.38.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $84.38 on Tuesday. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The firm has a fifty day moving average of $80.04 and a 200-day moving average of $82.04. The firm has a market capitalization of $19.30 billion, a P/E ratio of 12.63, a PEG 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 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 $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is presently 43.71%.

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.