Acropolis Investment Management LLC lowered its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 35.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,860 shares of the company’s stock after selling 5,416 shares during the period. Acropolis Investment Management LLC’s holdings in Principal Financial Group were worth $827,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Asset Dedication LLC grew its holdings in Principal Financial Group by 5,666.7% in the third quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares during the period. MinichMacGregor Wealth Management LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $25,000. Align Wealth Management LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $32,000. Guardian Wealth Advisors LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth $34,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 74.21% of the company’s stock.
Principal Financial Group Price Performance
Shares of NASDAQ PFG opened at $69.99 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.40. Principal Financial Group, Inc. has a fifty-two week low of $61.05 and a fifty-two week high of $96.17. The business has a 50 day moving average price of $87.41 and a two-hundred day moving average price of $85.04. The firm has a market cap of $17.01 billion, a PE ratio of 3.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.30.
Principal Financial Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.66%. Principal Financial Group’s dividend payout ratio (DPR) is 13.60%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Principal Financial Group from $61.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, January 9th. Credit Suisse Group downgraded shares of Principal Financial Group from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a research report on Thursday, December 8th. Royal Bank of Canada reduced their price target on shares of Principal Financial Group from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Friday, March 3rd. Barclays increased their price objective on shares of Principal Financial Group from $89.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Finally, Morgan Stanley lifted their target price on shares of Principal Financial Group from $76.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, February 24th. Eight equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $78.64.
Principal Financial Group Company Profile
Principal Financial Group, Inc engages in the investment management offering business. It offers financial products and services to businesses, individuals, and institutional clients. It operates its business through following segments: Retirement and Income Solutions, Principal Global Investors, Principal International, U.S.
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