Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Cut by Choreo LLC

Choreo LLC reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,798 shares of the company’s stock after selling 740 shares during the quarter. Choreo LLC’s holdings in Principal Financial Group were worth $1,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFG. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Principal Financial Group by 29.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,533 shares of the company’s stock worth $1,827,000 after acquiring an additional 5,350 shares in the last quarter. Greenwood Capital Associates LLC boosted its stake in shares of Principal Financial Group by 1.3% during the 4th quarter. Greenwood Capital Associates LLC now owns 17,578 shares of the company’s stock worth $1,361,000 after acquiring an additional 219 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Principal Financial Group by 22.5% during the 4th quarter. E. Ohman J or Asset Management AB now owns 10,900 shares of the company’s stock worth $844,000 after acquiring an additional 2,000 shares in the last quarter. Columbus Macro LLC boosted its stake in shares of Principal Financial Group by 46.7% during the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after acquiring an additional 8,169 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Principal Financial Group by 9.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after acquiring an additional 151 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $82.33 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The business has a fifty day simple moving average of $80.14 and a 200 day simple moving average of $82.09. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of -91.48, a P/E/G ratio of 0.81 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.64%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Keefe, Bruyette & Woods reduced their target price on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their target price on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.15.

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.