Metis Global Partners LLC Reduces Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Metis Global Partners LLC reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 34.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,366 shares of the company’s stock after selling 3,864 shares during the period. Metis Global Partners LLC’s holdings in Principal Financial Group were worth $570,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

PFG has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price target on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays boosted their price objective 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, Keefe, Bruyette & Woods upped their target price 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. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Stock Up 1.7 %

PFG opened at $87.06 on Thursday. The firm has a 50-day simple moving average of $82.24 and a two-hundred day simple moving average of $83.12. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a market capitalization of $19.64 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a quick ratio of 0.30, a current ratio of 0.29 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. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.45%. 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 44.91%.

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.