Korea Investment CORP Reduces Position in Principal Financial Group, Inc. (NYSE:PFG)

Korea Investment CORP trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,366 shares of the company’s stock after selling 8,000 shares during the quarter. Korea Investment CORP owned approximately 0.11% of Principal Financial Group worth $19,381,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Curio Wealth LLC bought a new stake in shares of Principal Financial Group in the fourth quarter valued at about $29,000. BankPlus Trust Department purchased a new stake in Principal Financial Group in the fourth quarter valued at about $33,000. Sugarloaf Wealth Management LLC boosted its holdings in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth about $46,000. Finally, Larson Financial Group LLC increased its holdings in shares of Principal Financial Group by 132.8% during the third quarter. Larson Financial Group LLC now owns 675 shares of the company’s stock valued at $58,000 after acquiring an additional 385 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFG has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays boosted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised shares of 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 research note on Tuesday, January 7th. BMO Capital Markets started coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Down 2.4 %

Shares of NYSE PFG opened at $83.06 on Friday. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $84.15 and a 200 day moving average price of $83.66. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.61%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is presently 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.