Kestra Private Wealth Services LLC Has $1.11 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Kestra Private Wealth Services LLC lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 23.6% during the fourth quarter, Holdings Channel reports. The fund owned 14,371 shares of the company’s stock after selling 4,429 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Principal Financial Group were worth $1,112,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after acquiring an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $120,577,000 after buying an additional 18,801 shares during the last quarter. Barclays PLC raised its holdings in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after buying an additional 88,179 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in Principal Financial Group by 27.2% during the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock worth $46,404,000 after buying an additional 115,569 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after buying an additional 146,473 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PFG shares. Barclays upped their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Wells Fargo & Company lowered their price objective on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, 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 report on Wednesday. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average target price of $85.54.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $86.95 on Friday. The company has a market cap of $19.89 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.79 and a beta of 1.22. The firm has a 50-day moving average of $80.04 and a 200-day moving average of $82.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 represents a $3.00 annualized dividend and a yield of 3.45%. 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 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.