SageView Advisory Group LLC Grows Holdings in Principal Financial Group, Inc. (NYSE:PFG)

SageView Advisory Group LLC grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,916 shares of the company’s stock after purchasing an additional 229 shares during the quarter. SageView Advisory Group LLC’s holdings in Principal Financial Group were worth $226,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sagespring Wealth Partners LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at about $279,000. Sterling Capital Management LLC lifted its stake in shares of Principal Financial Group by 54.0% in the 4th quarter. Sterling Capital Management LLC now owns 13,485 shares of the company’s stock worth $1,044,000 after acquiring an additional 4,731 shares during the period. Covestor Ltd boosted its stake in Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Argent Trust Co boosted its stake in Principal Financial Group by 0.6% during the fourth quarter. Argent Trust Co now owns 29,345 shares of the company’s stock valued at $2,272,000 after buying an additional 161 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $15,821,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 2.0 %

PFG stock opened at $71.64 on Thursday. The firm has a market cap of $16.12 billion, a PE ratio of 10.72, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The company has a fifty day simple moving average of $82.30 and a 200 day simple moving average of $82.82. 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 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 positive change 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 dividend on an annualized basis and a dividend yield of 4.19%. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PFG shares. Wells Fargo & Company reduced their price objective on Principal Financial Group from $74.00 to $68.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. UBS Group lifted their price target on Principal Financial Group from $87.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley lowered their target price on Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.69.

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.