422 Shares in Principal Financial Group, Inc. (NYSE:PFG) Purchased by BankPlus Trust Department

BankPlus Trust Department acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 422 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds also recently bought and sold shares of PFG. Metis Global Partners LLC lifted its position in shares of Principal Financial Group by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after acquiring an additional 533 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after purchasing an additional 9,933 shares in the last quarter. Legacy Financial Group LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter worth $771,000. Columbus Macro LLC grew its holdings in shares of Principal Financial Group by 46.7% during the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after buying an additional 8,169 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after buying an additional 12,768 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.3 %

Shares of PFG stock opened at $85.36 on Wednesday. The stock’s 50 day simple moving average is $80.97 and its 200 day simple moving average is $82.70. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. 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 company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 3.51%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s payout ratio is presently 44.91%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PFG shares. BMO Capital Markets assumed coverage on 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 boosted their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.92.

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.