Raymond James Financial Inc. bought a new stake 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 fund bought 204,385 shares of the company's stock, valued at approximately $15,821,000. Raymond James Financial Inc. owned 0.09% of Principal Financial Group as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Legacy Financial Group LLC acquired a new position in Principal Financial Group during the fourth quarter valued at $771,000. Columbus Macro LLC boosted its holdings in shares of Principal Financial Group by 46.7% during the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock worth $1,986,000 after purchasing an additional 8,169 shares during the period. Lecap Asset Management Ltd. grew its position in Principal Financial Group by 135.6% during the fourth quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company's stock valued at $1,739,000 after purchasing an additional 12,933 shares in the last quarter. Quantbot Technologies LP lifted its position 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 worth $11,480,000 after buying an additional 141,447 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock valued at $404,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.
Principal Financial Group Stock Performance
PFG traded down $1.54 during trading on Friday, hitting $73.46. The stock had a trading volume of 2,703,562 shares, compared to its average volume of 1,296,161. The firm has a market cap of $16.53 billion, a PE ratio of 11.00, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. The company has a 50 day simple moving average of $80.50 and a 200-day simple moving average of $82.21.
Principal Financial Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a dividend of $0.76 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 4.14%. Principal Financial Group's dividend payout ratio is presently 44.91%.
Analyst Upgrades and Downgrades
PFG has been the subject of several recent research reports. Morgan Stanley cut their price objective 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price target on Principal Financial Group from $74.00 to $68.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $84.69.
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About Principal Financial Group
(
Free Report)
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.
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