AMF Tjanstepension AB Sells 195,559 Shares of Principal Financial Group, Inc. (NYSE:PFG)

AMF Tjanstepension AB decreased its position in Principal Financial Group, Inc. (NYSE:PFG) by 67.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,164 shares of the company’s stock after selling 195,559 shares during the quarter. AMF Tjanstepension AB’s holdings in Principal Financial Group were worth $7,377,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group in the 3rd quarter worth $33,000. BankPlus Trust Department bought a new stake in shares of Principal Financial Group in the 4th quarter worth $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter worth $43,000. Sugarloaf Wealth Management LLC grew 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 buying an additional 195 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in Principal Financial Group during the third quarter valued at about $45,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 1.2 %

Shares of Principal Financial Group stock opened at $85.61 on Friday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $82.56 and its 200-day moving average price is $83.24.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.50%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Analyst Ratings Changes

PFG has been the subject of several research reports. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Barclays increased their price target 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. Finally, Wells Fargo & Company increased their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group 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.