Commonwealth Equity Services LLC Buys 1,620 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Commonwealth Equity Services LLC increased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,668 shares of the company’s stock after purchasing an additional 1,620 shares during the period. Commonwealth Equity Services LLC’s holdings in Principal Financial Group were worth $6,012,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter worth approximately $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at $43,000. Sugarloaf Wealth Management LLC raised its position in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at $45,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at $46,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $83.26 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a market capitalization of $18.78 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company’s 50 day moving average price is $83.65 and its two-hundred day moving average price is $83.45. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued 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 yield of 3.60%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. 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 research report on Tuesday, January 7th. Barclays upped their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Four equities 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 assigned a strong buy rating to the company. According to MarketBeat, Principal Financial Group has an average 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.