Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.4% in the fourth quarter, Holdings Channel reports. The firm owned 7,812 shares of the company’s stock after buying an additional 258 shares during the quarter. Vinva Investment Management Ltd’s holdings in Principal Financial Group were worth $603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its stake in Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares during the period. Leavell Investment Management Inc. boosted its stake in Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock worth $208,000 after purchasing an additional 138 shares during the period. Palisade Asset Management LLC boosted its stake in Principal Financial Group by 2.1% during the 3rd quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock worth $597,000 after purchasing an additional 146 shares during the period. CENTRAL TRUST Co raised its position in Principal Financial Group by 9.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after buying an additional 151 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its position in Principal Financial Group by 6.3% during the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Ratings Changes

PFG has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their price objective 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. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. BMO Capital Markets started 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 for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $83.26 on Friday. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. The company’s 50-day moving average price is $83.65 and its 200 day moving average price is $83.45. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.60%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 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.