Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Ossiam

Ossiam cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 70.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,929 shares of the company’s stock after selling 14,211 shares during the period. Ossiam’s holdings in Principal Financial Group were worth $459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised 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 valued at $404,000 after acquiring an additional 132 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in Principal Financial Group by 9.6% in the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after purchasing an additional 151 shares during the period. Cidel Asset Management Inc. grew its position in Principal Financial Group by 6.3% in the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock valued at $204,000 after buying an additional 156 shares in the last quarter. Finally, Hartford Funds Management Co LLC increased its stake in Principal Financial Group by 1.5% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock valued at $870,000 after buying an additional 161 shares during the period. 75.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PFG. 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. Wells Fargo & Company lowered their price target on Principal Financial Group from $74.00 to $68.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Barclays lowered their target price on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada reissued 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 analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.69.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $72.85 on Wednesday. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The firm’s 50 day simple moving average is $81.21 and its 200-day simple moving average is $82.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market cap of $16.39 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid 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 4.12%. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s payout ratio is 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.