Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Huntington National Bank

Huntington National Bank lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,210 shares of the company’s stock after acquiring an additional 661 shares during the period. Huntington National Bank’s holdings in Principal Financial Group were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Curio Wealth LLC purchased a new stake in Principal Financial Group during the 4th quarter valued at about $29,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Sugarloaf Wealth Management LLC boosted its holdings 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 worth $43,000 after purchasing an additional 195 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $54,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 8.0 %

Shares of PFG opened at $72.94 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 stock has a market capitalization of $16.45 billion, a PE ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01. The company’s 50-day simple moving average is $84.12 and its 200-day simple moving average is $83.67. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.98.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a $0.75 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 4.11%. Principal Financial Group’s payout ratio is 44.91%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. Barclays increased their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Finally, UBS Group lifted their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.57.

Principal Financial Group 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.