Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Centric Wealth Management

Centric Wealth Management reduced its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,507 shares of the company’s stock after selling 327 shares during the quarter. Centric Wealth Management’s holdings in Principal Financial Group were worth $1,975,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its holdings in shares of Principal Financial Group by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after acquiring an additional 132 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in shares of Principal Financial Group by 5.4% in the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after buying an additional 138 shares in the last quarter. CENTRAL TRUST Co grew its holdings in Principal Financial Group by 9.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after acquiring an additional 151 shares during the period. Cidel Asset Management Inc. lifted its holdings in Principal Financial Group by 6.3% in the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock valued at $204,000 after acquiring an additional 156 shares during the period. Finally, Hartford Funds Management Co LLC boosted its position in shares of Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Barclays raised their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. BMO Capital Markets started coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Performance

Shares of PFG opened at $84.37 on Tuesday. The company has a market capitalization of $19.03 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.98. The company’s 50 day simple moving average is $84.21 and its 200 day simple moving average is $83.72.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

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.