Hartford Funds Management Co LLC Has $870,000 Position in Principal Financial Group, Inc. (NYSE:PFG)

Hartford Funds Management Co LLC raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,241 shares of the company’s stock after purchasing an additional 161 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Principal Financial Group were worth $870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group during the 3rd quarter valued at approximately $33,000. BankPlus Trust Department acquired a new stake in Principal Financial Group during the 4th quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new stake in Principal Financial Group during the 3rd quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC increased its position in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in Principal Financial Group during the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG opened at $86.64 on Friday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The business’s fifty day moving average is $82.41 and its 200 day moving average is $83.15. 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 stock has a market cap of $19.54 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.76 and a beta of 1.17.

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 issued a $0.75 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company increased 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 report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Finally, Barclays increased their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average target price 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.