Leavell Investment Management Inc. Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Leavell Investment Management Inc. raised its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,693 shares of the company’s stock after buying an additional 138 shares during the period. Leavell Investment Management Inc.’s holdings in Principal Financial Group were worth $208,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Metis Global Partners LLC boosted its position in Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after acquiring an additional 9,933 shares during the last quarter. Legacy Financial Group LLC bought a new position in shares of Principal Financial Group during the fourth quarter valued at about $771,000. Columbus Macro LLC raised its stake in shares of Principal Financial Group by 46.7% during the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after acquiring an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after acquiring an additional 12,768 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on PFG shares. BMO Capital Markets started coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays upped their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.54.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $85.65 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a 50 day simple moving average of $80.10 and a two-hundred day simple moving average of $82.12. The company has a market capitalization of $19.59 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.75 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.50%. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Principal Financial Group Company 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.