Y Intercept Hong Kong Ltd Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Y Intercept Hong Kong Ltd bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,725 shares of the company’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Principal Financial Group by 4.0% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 107,751 shares of the company’s stock valued at $8,341,000 after acquiring an additional 4,100 shares in the last quarter. ING Groep NV acquired a new position in shares of Principal Financial Group during the 4th quarter valued at $776,000. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Principal Financial Group by 53.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,695 shares of the company’s stock valued at $750,000 after acquiring an additional 3,387 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Principal Financial Group by 1.5% during the 4th quarter. CIBC Asset Management Inc now owns 38,295 shares of the company’s stock valued at $2,964,000 after acquiring an additional 566 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Principal Financial Group by 0.7% during the 4th quarter. Sanctuary Advisors LLC now owns 25,107 shares of the company’s stock valued at $2,097,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $87.53 on Friday. The firm has a market cap of $19.74 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22. The firm’s 50-day simple moving average is $81.44 and its 200-day simple moving average is $82.75. 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 $91.97.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted 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 report on Wednesday, February 12th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded 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 report on Tuesday, January 7th. Four research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.92.

About Principal Financial Group

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.