Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by LPL Financial LLC

LPL Financial LLC lifted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 106,747 shares of the company’s stock after buying an additional 4,478 shares during the period. LPL Financial LLC’s holdings in Principal Financial Group were worth $8,263,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its position in Principal Financial Group by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after acquiring an additional 132 shares in the last quarter. Leavell Investment Management Inc. grew its holdings in Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares in the last quarter. CENTRAL TRUST Co grew its holdings in Principal Financial Group by 9.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock valued at $134,000 after purchasing an additional 151 shares in the last quarter. Cidel Asset Management Inc. increased its stake in Principal Financial Group by 6.3% during the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after buying an additional 156 shares during the period. Finally, Hartford Funds Management Co LLC lifted its holdings in Principal Financial Group by 1.5% in the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after buying an additional 161 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $72.94 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $84.12 and its two-hundred day moving average price is $83.67. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.98. The stock has a market capitalization of $16.45 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 4.11%. 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

PFG has been the topic of a number of analyst reports. Barclays lifted their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on 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. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, BMO Capital Markets initiated 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. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.57.

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.