Argentarii LLC Makes New $641,000 Investment in Principal Financial Group, Inc. (NYSE:PFG)

Argentarii LLC acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,280 shares of the company’s stock, valued at approximately $641,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Amundi grew its stake in shares of Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after purchasing an additional 264,383 shares during the last quarter. KBC Group NV raised its holdings in Principal Financial Group by 398.4% during the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after purchasing an additional 232,915 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Principal Financial Group by 85.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after acquiring an additional 215,045 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Principal Financial Group in the fourth quarter worth $15,821,000. Finally, Bank of Montreal Can grew its position in shares of Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after purchasing an additional 146,473 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

PFG opened at $85.61 on Friday. The company has a fifty day simple moving average of $82.56 and a 200 day simple moving average of $83.24. The stock has a market cap of $19.31 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. 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, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97.

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 paid a $0.75 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

Analysts Set New Price Targets

PFG has been the subject of several analyst reports. Barclays upped their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Four 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. According to data from MarketBeat, Principal Financial Group presently 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.