AMF Tjanstepension AB Sells 195,559 Shares of Principal Financial Group, Inc. (NYSE:PFG)

AMF Tjanstepension AB trimmed its stake in Principal Financial Group, Inc. (NYSE:PFG) by 67.3% during the 4th quarter, Holdings Channel reports. The firm owned 95,164 shares of the company’s stock after selling 195,559 shares during the quarter. AMF Tjanstepension AB’s holdings in Principal Financial Group were worth $7,377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after acquiring an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Principal Financial Group by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock valued at $112,129,000 after acquiring an additional 44,818 shares during the last quarter. Barclays PLC grew its position in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after acquiring an additional 88,179 shares during the last quarter. AustralianSuper Pty Ltd grew its position in Principal Financial Group by 23.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after acquiring an additional 125,198 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Principal Financial Group by 41.0% during the third 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 last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $85.61 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $19.31 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. The business has a fifty day simple moving average of $82.56 and a two-hundred day simple moving average of $83.24. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 44.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFG shares. BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Barclays raised 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, Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.