DMKC Advisory Services LLC Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

DMKC Advisory Services LLC purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 60,749 shares of the company’s stock, valued at approximately $4,703,000. Principal Financial Group accounts for approximately 4.3% of DMKC Advisory Services LLC’s investment portfolio, making the stock its 4th largest position.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Principal Financial Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after buying an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Principal Financial Group by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock worth $120,577,000 after acquiring an additional 18,801 shares during the period. Barclays PLC grew its position in Principal Financial Group by 12.3% in the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock valued at $69,293,000 after acquiring an additional 88,179 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Principal Financial Group by 23.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after purchasing an additional 125,198 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFG has been the topic of several analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target for the company. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set 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 assigned a hold rating, two have issued 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 an average target price of $85.92.

Principal Financial Group Stock Up 0.3 %

PFG stock opened at $85.36 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The firm has a fifty day moving average price of $80.97 and a two-hundred day moving average price of $82.70. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.76 and a beta of 1.22.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 12th. 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 3.51%. Principal Financial Group’s dividend payout ratio is 44.91%.

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.