NorthRock Partners LLC Makes New $336,000 Investment in Principal Financial Group, Inc. (NYSE:PFG)

NorthRock Partners LLC acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,345 shares of the company's stock, valued at approximately $336,000.

A number of other institutional investors also recently bought and sold shares of PFG. Norges Bank purchased a new position in shares of Principal Financial Group during the fourth quarter worth about $217,021,000. Deutsche Bank AG raised its stake in shares of Principal Financial Group by 73.5% during the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock worth $114,726,000 after purchasing an additional 627,865 shares during the last quarter. Northern Trust Corp grew its position in Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock valued at $283,546,000 after buying an additional 326,604 shares during the last quarter. Amundi increased its stake in Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after buying an additional 264,383 shares during the period. Finally, KBC Group NV raised its position in Principal Financial Group by 398.4% during the 4th quarter. KBC Group NV now owns 291,379 shares of the company's stock worth $22,555,000 after buying an additional 232,915 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFG has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price for the company. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Morgan Stanley upped their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday. UBS Group reduced their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, Barclays lowered their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Four analysts have rated the stock with a sell rating, six have given 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, the stock presently has an average rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Trading Down 3.9%

PFG traded down $3.17 during trading on Wednesday, hitting $77.36. The company's stock had a trading volume of 1,040,347 shares, compared to its average volume of 1,319,451. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The stock has a market cap of $17.34 billion, a PE ratio of 11.58, a PEG ratio of 0.76 and a beta of 1.01. The firm's 50 day moving average price is $78.06 and its 200-day moving average price is $81.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period last year, the business earned $1.65 earnings per share. On average, analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

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.