Canada Post Corp Registered Pension Plan Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Canada Post Corp Registered Pension Plan purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,966 shares of the company's stock, valued at approximately $307,000.

A number of other large investors also recently bought and sold shares of PFG. Norges Bank acquired a new stake in Principal Financial Group during the fourth quarter valued at $217,021,000. Amundi raised its holdings in Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after purchasing an additional 264,383 shares during the period. KBC Group NV grew its holdings in Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company's stock valued at $22,555,000 after purchasing an additional 232,915 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $15,821,000. Finally, Quantbot Technologies LP grew its stake in Principal Financial Group by 2,064.3% in the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after acquiring an additional 141,447 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PFG shares. UBS Group increased their price objective on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Morgan Stanley reduced their target price on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Barclays lowered their price target on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective for the company. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and a consensus target price of $84.69.

Principal Financial Group Trading Up 2.7 %

Principal Financial Group stock traded up $1.89 during trading on Tuesday, hitting $72.15. The company had a trading volume of 237,443 shares, compared to its average volume of 1,273,981. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company's 50 day simple moving average is $81.49 and its 200-day simple moving average is $82.49. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth 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. Stockholders 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 dividend yield of 4.16%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio 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.