Steward Partners Investment Advisory LLC Sells 656 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Steward Partners Investment Advisory LLC lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,705 shares of the company’s stock after selling 656 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Principal Financial Group were worth $674,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the third quarter valued at $33,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the fourth quarter valued at $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group during the third quarter valued at $43,000. Prospera Private Wealth LLC bought a new stake in Principal Financial Group during the third quarter valued at $45,000. Finally, Sugarloaf Wealth Management LLC boosted its position in Principal Financial Group by 53.6% during the fourth 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 last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 1.0 %

PFG opened at $82.88 on Wednesday. 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, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The firm has a market capitalization of $18.70 billion, a PE ratio of 12.41, a P/E/G ratio of 0.76 and a beta of 1.17. The company’s 50-day moving average is $82.80 and its 200 day moving average is $83.34.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, March 12th. 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%.

Wall Street Analyst Weigh In

A number of analysts have commented on PFG shares. BMO Capital Markets started 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 target on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Barclays increased their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.92.

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.