Parallel Advisors LLC Raises Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Parallel Advisors LLC lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 25.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,193 shares of the company’s stock after buying an additional 450 shares during the period. Parallel Advisors LLC’s holdings in Principal Financial Group were worth $185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of Principal Financial Group by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company’s stock worth $422,074,000 after buying an additional 52,410 shares during the last quarter. Northern Trust Corp boosted its stake in Principal Financial Group by 9.8% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in Principal Financial Group during the 4th quarter worth approximately $217,021,000. JPMorgan Chase & Co. grew its position in Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after purchasing an additional 118,722 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Principal Financial Group by 12.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock worth $145,318,000 after purchasing an additional 209,885 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

PFG has been the topic of several research analyst reports. Barclays dropped their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. Morgan Stanley boosted their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an “underweight” rating in a research report on Monday, May 19th. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 29th. UBS Group dropped their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $83.85.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $75.94 on Friday. 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, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. The company has a 50 day simple moving average of $76.42 and a two-hundred day simple moving average of $80.42. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $1.65 EPS. As a group, analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $0.76 per share. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 4.00%. Principal Financial Group’s dividend payout ratio is 65.10%.

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.