Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 49.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,404 shares of the company's stock after selling 250,331 shares during the quarter. Bank of Montreal Can owned 0.11% of Principal Financial Group worth $19,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFG. Curio Wealth LLC acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $29,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at $33,000. Sugarloaf Wealth Management LLC boosted its holdings in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares during the period. Golden State Wealth Management LLC purchased a new stake in Principal Financial Group during the fourth quarter worth about $46,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $54,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFG has been the subject of a number of recent research reports. BMO Capital Markets started coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 target price for the company. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Morgan Stanley dropped their price objective on shares of Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price target on Principal Financial Group from $74.00 to $68.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $84.69.

Principal Financial Group Trading Up 1.8 %

NYSE PFG traded up $1.31 during trading hours on Thursday, hitting $72.95. 473,774 shares of the company's stock were exchanged, compared to its average volume of 1,267,128. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market capitalization of $16.41 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The business's 50 day moving average is $82.30 and its 200-day moving average is $82.82. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.98.

Principal Financial Group Increases Dividend

The business also recently declared 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. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 4.11%. Principal Financial Group's dividend payout ratio is 44.91%.

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.