Proficio Capital Partners LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Proficio Capital Partners LLC bought a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 59,838 shares of the company’s stock, valued at approximately $4,632,000.

Other institutional investors have also recently made changes to their positions in the company. KBC Group NV raised its stake in Principal Financial Group by 398.4% in the 4th 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 last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Principal Financial Group by 85.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after buying an additional 215,045 shares in the last quarter. Bank of Montreal Can raised its position in shares of Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after buying an additional 146,473 shares during the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of Principal Financial Group by 23.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock worth $51,509,000 after buying an additional 125,198 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after acquiring an additional 118,722 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 1.3 %

Shares of NYSE:PFG opened at $83.88 on Tuesday. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The business has a 50-day moving average price of $83.18 and a 200 day moving average price of $83.41. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.58%. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

Wall Street Analyst Weigh In

A number of analysts have commented on PFG shares. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Barclays increased their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Wells Fargo & Company boosted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.92.

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.