QRG Capital Management Inc. Reduces Holdings in Principal Financial Group, Inc. (NYSE:PFG)

QRG Capital Management Inc. lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,754 shares of the company’s stock after selling 1,898 shares during the quarter. QRG Capital Management Inc.’s holdings in Principal Financial Group were worth $1,374,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PFG. Harbor Capital Advisors Inc. increased its position in Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in shares of Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock worth $208,000 after purchasing an additional 138 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after buying an additional 142 shares in the last quarter. Empirical Finance LLC raised its position in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after buying an additional 142 shares during the last quarter. Finally, Palisade Asset Management LLC lifted its stake in shares of Principal Financial Group by 2.1% during the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock valued at $597,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $88.64 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $19.99 billion, a P/E ratio of 13.27, a PEG ratio of 0.76 and a beta of 1.22. The firm has a fifty day moving average of $81.90 and a 200-day moving average of $83.04. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.38%. 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. Principal Financial Group’s payout ratio is currently 44.91%.

Analyst Upgrades and Downgrades

PFG has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets started coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Company 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.