Victory Capital Management Inc. Acquires 11,187 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Victory Capital Management Inc. lifted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 410,926 shares of the company’s stock after purchasing an additional 11,187 shares during the period. Victory Capital Management Inc.’s holdings in Principal Financial Group were worth $31,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Metis Global Partners LLC increased its position in shares of Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after acquiring an additional 533 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Principal Financial Group by 66.2% in 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 purchased a new position in Principal Financial Group in the fourth quarter valued at about $771,000. Columbus Macro LLC boosted its stake in Principal Financial Group by 46.7% in 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 boosted its stake in Principal Financial Group by 358.7% in 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 owned by institutional investors.

Principal Financial Group Stock Performance

NYSE PFG opened at $85.61 on Monday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market capitalization of $19.31 billion, a PE ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. The company’s 50 day simple moving average is $82.56 and its two-hundred day simple moving average is $83.28.

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 paid a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.50%. Principal Financial Group’s dividend payout ratio is currently 44.91%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PFG shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. 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. 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 note on Friday, February 7th. BMO Capital Markets initiated 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 target on the stock. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.