HBK Sorce Advisory LLC Sells 788 Shares of Principal Financial Group, Inc. (NYSE:PFG)

HBK Sorce Advisory LLC decreased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,732 shares of the company’s stock after selling 788 shares during the period. HBK Sorce Advisory LLC’s holdings in Principal Financial Group were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PFG. Peterson Financial Group Inc. bought a new position in Principal Financial Group during the third quarter valued at $33,000. BankPlus Trust Department bought a new position in Principal Financial Group during the fourth quarter valued at $33,000. Truvestments Capital LLC bought a new position in Principal Financial Group during the third quarter valued at $43,000. Sugarloaf Wealth Management LLC increased its position in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Principal Financial Group during the third quarter valued at $45,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $82.78 on Friday. The company has a market capitalization of $18.67 billion, a PE ratio of 12.39, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a 50-day simple moving average of $83.06 and a two-hundred day simple moving average of $83.36. Principal Financial Group, Inc. has a one year low of $72.21 and a one year 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. Shareholders of record on Wednesday, March 12th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.62%. Principal Financial Group’s payout ratio is currently 44.91%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their target price on shares of 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. Morgan Stanley reissued an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reissued 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 research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average target price 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.