6,637 Shares in Principal Financial Group, Inc. (NYSE:PFG) Purchased by Denali Advisors LLC

Denali Advisors LLC acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,637 shares of the company’s stock, valued at approximately $514,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $63,000. BankPlus Trust Department purchased a new stake in Principal Financial Group in the 4th quarter valued at approximately $33,000. IFP Advisors Inc lifted its stake in Principal Financial Group by 20.5% in the 4th quarter. IFP Advisors Inc now owns 10,177 shares of the company’s stock valued at $789,000 after buying an additional 1,729 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Principal Financial Group during the 4th quarter valued at $908,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Principal Financial Group by 4.0% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 107,751 shares of the company’s stock worth $8,341,000 after buying an additional 4,100 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

NYSE:PFG opened at $85.90 on Thursday. The company has a market cap of $19.38 billion, a P/E ratio of 12.86, a P/E/G ratio of 0.76 and a beta of 1.22. The firm’s 50 day moving average is $81.19 and its two-hundred day moving average is $82.72. 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 quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a $0.75 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. 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. Wells Fargo & Company upped their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. BMO Capital Markets assumed 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 price objective for the company. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.