PNC Financial Services Group Inc. Has $11.90 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

PNC Financial Services Group Inc. cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,682 shares of the company’s stock after selling 2,503 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Principal Financial Group worth $11,897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in Principal Financial Group in the third quarter valued at about $33,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Truvestments Capital LLC acquired a new stake in Principal Financial Group in the third quarter worth $43,000. Sugarloaf Wealth Management LLC increased its position in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PFG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 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. Keefe, Bruyette & Woods boosted 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. 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 research 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Stock Down 1.0 %

Shares of NYSE PFG opened at $82.88 on Wednesday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The stock’s fifty day simple moving average is $82.80 and its two-hundred day simple moving average is $83.34. The stock has a market capitalization of $18.70 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s payout ratio is presently 44.91%.

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.