Zurcher Kantonalbank Zurich Cantonalbank Acquires 38,952 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 33.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 154,534 shares of the company’s stock after buying an additional 38,952 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Principal Financial Group were worth $11,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PFG. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the third quarter valued at approximately $33,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the fourth quarter valued at approximately $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group during the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC grew its position in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in shares of Principal Financial Group in the third quarter worth approximately $45,000. 75.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PFG. BMO Capital Markets began 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 target for the company. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Four equities 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Price Performance

PFG stock opened at $82.03 on Thursday. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The company’s fifty day moving average price is $82.90 and its 200-day moving average price is $83.34. 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 $18.50 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.66%. Principal Financial Group’s dividend payout ratio is presently 44.91%.

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.