Man Group plc Lowers Position in Principal Financial Group, Inc. (NYSE:PFG)

Man Group plc decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 35.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,518 shares of the company’s stock after selling 78,615 shares during the quarter. Man Group plc owned approximately 0.06% of Principal Financial Group worth $10,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $217,021,000. Deutsche Bank AG boosted its position in shares of Principal Financial Group by 73.5% in the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company’s stock worth $114,726,000 after purchasing an additional 627,865 shares during the period. Northern Trust Corp boosted its position in shares of Principal Financial Group by 9.8% in the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock worth $283,546,000 after purchasing an additional 326,604 shares during the period. Amundi increased its stake in shares of Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after purchasing an additional 264,383 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after purchasing an additional 232,915 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE PFG opened at $81.55 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. The business has a 50 day simple moving average of $78.08 and a two-hundred day simple moving average of $81.08. The stock has a market capitalization of $18.28 billion, a PE ratio of 12.21, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the company earned $1.65 EPS. On average, research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a $0.76 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Monday, June 2nd. Principal Financial Group’s dividend payout ratio (DPR) is presently 65.10%.

Wall Street Analyst Weigh In

PFG has been the subject of several recent analyst reports. Barclays dropped their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating for the company in a report on Friday, April 11th. Morgan Stanley boosted their price objective on Principal Financial Group from $65.00 to $67.00 and gave the company an “underweight” rating in a research report on Tuesday, May 6th. BMO Capital Markets assumed coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $86.00 to $87.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company upped their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.54.

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.