Charles Schwab Investment Management Inc. Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Charles Schwab Investment Management Inc. increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,448,507 shares of the company’s stock after acquiring an additional 44,818 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Principal Financial Group worth $112,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PFG. KBC Group NV raised 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after buying an additional 215,045 shares during the last quarter. Bank of Montreal Can lifted its stake in Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after acquiring an additional 146,473 shares during the period. Mizuho Securities USA LLC boosted its holdings in shares of Principal Financial Group by 818.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of Principal Financial Group by 23.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock worth $51,509,000 after acquiring an additional 125,198 shares during the period. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $85.61 on Friday. The stock has a market cap of $19.31 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The firm has a fifty day moving average price of $82.56 and a 200-day moving average price of $83.24. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.50%. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

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.