Vinva Investment Management Ltd Grows Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Vinva Investment Management Ltd grew its stake in Principal Financial Group, Inc. (NYSE:PFG) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,812 shares of the company’s stock after acquiring an additional 258 shares during the period. Vinva Investment Management Ltd’s holdings in Principal Financial Group were worth $603,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC raised its stake in shares of Principal Financial Group by 66.2% in the 3rd 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 period. Legacy Financial Group LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $771,000. Columbus Macro LLC raised its stake in shares of Principal Financial Group by 46.7% in the 4th 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 period. Empowered Funds LLC raised its stake in shares of Principal Financial Group by 358.7% in the 3rd 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 period. Finally, Lecap Asset Management Ltd. raised its stake in shares of Principal Financial Group by 135.6% in the 4th quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock valued at $1,739,000 after acquiring an additional 12,933 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 1.0 %

Shares of Principal Financial Group stock opened at $83.26 on Friday. The company has a fifty day simple moving average of $83.65 and a 200-day simple moving average of $83.45. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. 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 stock has a market cap of $18.78 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business also recently announced 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 is a boost 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 annualized dividend and a dividend yield of 3.60%. Principal Financial Group’s dividend payout ratio is presently 44.91%.

Wall Street Analyst Weigh In

PFG has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their target price 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, February 12th. 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 target price on the stock. Barclays upped their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $85.92.

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.