Farther Finance Advisors LLC Grows Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Farther Finance Advisors LLC boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,216 shares of the company’s stock after purchasing an additional 632 shares during the quarter. Farther Finance Advisors LLC’s holdings in Principal Financial Group were worth $559,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Metis Global Partners LLC raised its stake in Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after purchasing an additional 533 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Principal Financial Group by 66.2% during 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 purchased a new stake in Principal Financial Group during the fourth quarter valued at $771,000. Columbus Macro LLC increased its position in 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 acquiring an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC increased 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 acquiring an additional 12,768 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 2.8 %

Shares of Principal Financial Group stock opened at $82.78 on Monday. 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, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The firm’s 50-day moving average is $83.06 and its two-hundred day moving average is $83.39. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The firm also recently announced 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. This represents a $3.00 annualized dividend and a yield of 3.62%. 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. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Analyst Ratings Changes

A number of research analysts have weighed in on PFG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. BMO Capital Markets started 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. Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have issued 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.com, the stock has an average rating of “Hold” and an average target price of $85.92.

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.