Harbour Investments Inc. Acquires 275 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Harbour Investments Inc. raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,838 shares of the company’s stock after purchasing an additional 275 shares during the period. Harbour Investments Inc.’s holdings in Principal Financial Group were worth $142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in shares of Principal Financial Group by 2.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 77,668 shares of the company’s stock valued at $6,012,000 after purchasing an additional 1,620 shares in the last quarter. Erste Asset Management GmbH increased its stake in shares of Principal Financial Group by 4.8% during the fourth quarter. Erste Asset Management GmbH now owns 4,400 shares of the company’s stock valued at $342,000 after purchasing an additional 200 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Principal Financial Group by 9.6% during the fourth quarter. Farther Finance Advisors LLC now owns 7,216 shares of the company’s stock valued at $559,000 after purchasing an additional 632 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Principal Financial Group by 64.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,630 shares of the company’s stock valued at $358,000 after purchasing an additional 1,818 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Principal Financial Group by 8.1% in the 4th quarter. HighTower Advisors LLC now owns 14,451 shares of the company’s stock worth $1,119,000 after acquiring an additional 1,080 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 1.0 %

Shares of PFG stock opened at $83.26 on Friday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.98. The firm has a fifty day moving average price of $83.65 and a 200-day moving average price of $83.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market cap 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is an increase 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 dividend yield of 3.60%. Principal Financial Group’s payout ratio is presently 44.91%.

Analysts Set New Price Targets

PFG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Wells Fargo & Company boosted their price objective 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. Barclays boosted their price objective 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 boosted their price objective 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 analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.