Meiji Yasuda Asset Management Co Ltd. Sells 28,950 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 78.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,729 shares of the company’s stock after selling 28,950 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Principal Financial Group were worth $598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFG. LPL Financial LLC boosted its stake in shares of Principal Financial Group by 4.4% during the fourth quarter. LPL Financial LLC now owns 106,747 shares of the company’s stock valued at $8,263,000 after purchasing an additional 4,478 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Principal Financial Group in the 4th quarter valued at approximately $6,142,000. Mizuho Securities USA LLC boosted its position in Principal Financial Group by 44.4% during the 4th quarter. Mizuho Securities USA LLC now owns 19,944 shares of the company’s stock worth $1,544,000 after buying an additional 6,128 shares during the period. Virtu Financial LLC acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $271,000. Finally, Quantbot Technologies LP grew its holdings in Principal Financial Group by 2,064.3% during the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company’s stock worth $11,480,000 after acquiring an additional 141,447 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PFG shares. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. BMO Capital Markets initiated coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price objective on 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. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Stock Down 0.6 %

Principal Financial Group stock opened at $85.08 on Friday. The company has a market capitalization of $19.19 billion, a PE ratio of 12.74, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.98. The firm’s fifty day moving average is $84.13 and its 200 day moving average is $83.60. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is 44.91%.

About Principal Financial Group

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.