Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,225 shares of the company’s stock after selling 127 shares during the period. Manchester Capital Management LLC’s holdings in Principal Financial Group were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFG. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Sugarloaf Wealth Management LLC increased its stake in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Principal Financial Group during the 4th quarter worth approximately $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NYSE:PFG opened at $85.65 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.79 and a beta of 1.22. The firm’s fifty day simple moving average is $80.13 and its 200 day simple moving average is $82.15. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This is a positive change 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 annualized dividend and a dividend yield of 3.50%. Principal Financial Group’s payout ratio is presently 44.91%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PFG. Barclays raised their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted 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 research note on Wednesday. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average price target of $85.54.

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.