10,028 Shares in Principal Financial Group, Inc. (NYSE:PFG) Purchased by ING Groep NV

ING Groep NV bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, HoldingsChannel reports. The firm bought 10,028 shares of the company’s stock, valued at approximately $776,000.

Other institutional investors have also added to or reduced their stakes in the company. Metis Global Partners LLC lifted its stake in Principal Financial Group by 5.0% during the third 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 period. Sanctuary Advisors LLC lifted its stake in Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after purchasing an additional 9,933 shares during the period. Legacy Financial Group LLC bought a new position in Principal Financial Group during the fourth quarter worth about $771,000. Columbus Macro LLC lifted its stake in Principal Financial Group by 46.7% during the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after purchasing an additional 8,169 shares during the period. Finally, Empowered Funds LLC lifted its stake in Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after purchasing an additional 12,768 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

PFG opened at $85.11 on Tuesday. The company has a fifty day moving average price of $80.82 and a two-hundred day moving average price of $82.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The firm has a market capitalization of $19.20 billion, a PE ratio of 12.74, a P/E/G ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 44.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note 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 issued a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average target price of $85.92.

About Principal Financial Group

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.