Wellington Management Group LLP Sells 179,405 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Wellington Management Group LLP lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,191,838 shares of the company’s stock after selling 179,405 shares during the period. Wellington Management Group LLP’s holdings in Principal Financial Group were worth $324,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Principal Financial Group during the fourth quarter valued at about $217,021,000. JPMorgan Chase & Co. increased its position in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after purchasing an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Principal Financial Group by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock valued at $112,129,000 after buying an additional 44,818 shares in the last quarter. Amundi lifted its position in Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after buying an additional 264,383 shares during the last quarter. Finally, Barclays PLC boosted its stake in Principal Financial Group by 12.3% in the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after buying an additional 88,179 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $85.15 on Wednesday. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.76 and a beta of 1.17. The stock has a fifty day moving average of $84.26 and a 200 day moving average of $83.75. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.98. 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 announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.75 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.52%. Principal Financial Group’s payout ratio is presently 44.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, BMO Capital Markets started coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus 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.