Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by IFP Advisors Inc

IFP Advisors Inc raised its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,177 shares of the company’s stock after purchasing an additional 1,729 shares during the quarter. IFP Advisors Inc’s holdings in Principal Financial Group were worth $789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB grew its holdings in shares of Principal Financial Group by 28.7% during the third quarter. AMF Tjanstepension AB now owns 290,723 shares of the company’s stock valued at $24,997,000 after buying an additional 64,915 shares during the last quarter. International Assets Investment Management LLC lifted its position in Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after acquiring an additional 130,225 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Principal Financial Group by 29.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,183 shares of the company’s stock valued at $1,565,000 after purchasing an additional 4,111 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Principal Financial Group by 2.5% in the third quarter. First Trust Direct Indexing L.P. now owns 6,479 shares of the company’s stock valued at $557,000 after purchasing an additional 159 shares during the period. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Principal Financial Group by 11.4% in the third quarter. Pinnacle Associates Ltd. now owns 9,659 shares of the company’s stock valued at $760,000 after purchasing an additional 988 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PFG. BMO Capital Markets began coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Barclays increased their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, Wells Fargo & Company boosted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Performance

NYSE PFG opened at $87.53 on Friday. The stock’s 50 day simple moving average is $81.44 and its 200-day simple moving average is $82.75. 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 cap of $19.74 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently declared 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. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

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.