Inceptionr LLC Invests $1.33 Million in Principal Financial Group, Inc. (NYSE:PFG)

Inceptionr LLC bought a new position in Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, Holdings Channel reports. The firm bought 17,116 shares of the company’s stock, valued at approximately $1,325,000.

Other hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC lifted its position in shares of Principal Financial Group by 5.0% in the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after buying an additional 533 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter worth about $771,000. Columbus Macro LLC lifted its position in shares of Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after buying an additional 8,169 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Principal Financial Group by 358.7% in the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after buying an additional 12,768 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PFG shares. Wells Fargo & Company upped 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 upped their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Keefe, Bruyette & Woods upped their price objective on 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. Finally, BMO Capital Markets started coverage on 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. Four equities 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.92.

Principal Financial Group Trading Up 1.7 %

Shares of NYSE PFG opened at $87.06 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The business’s 50 day moving average price is $82.24 and its 200-day moving average price is $83.12. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.45%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 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.