Sciencast Management LP Acquires Shares of 25,919 Principal Financial Group, Inc. (NYSE:PFG)

Sciencast Management LP bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 25,919 shares of the company’s stock, valued at approximately $2,006,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of 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. Natixis Advisors LLC increased its position in Principal Financial Group by 11.7% during the 3rd quarter. Natixis Advisors LLC now owns 88,088 shares of the company’s stock valued at $7,567,000 after purchasing an additional 9,209 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $2,441,000. Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $45,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Principal Financial Group by 85.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after purchasing an additional 215,045 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PFG. BMO Capital Markets began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Barclays boosted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Finally, Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $83.26 on Friday. The firm’s 50 day simple moving average is $83.65 and its 200-day simple moving average is $83.45. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.98. 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. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.60%. Principal Financial Group’s dividend payout ratio is presently 44.91%.

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.