Invesco Ltd. Has $213.19 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Invesco Ltd. lowered its position in Principal Financial Group, Inc. (NYSE:PFG) by 16.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,753,987 shares of the company’s stock after selling 533,524 shares during the quarter. Invesco Ltd.’s holdings in Principal Financial Group were worth $213,186,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Curio Wealth LLC bought a new position in Principal Financial Group during the 4th quarter worth $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at about $33,000. Sugarloaf Wealth Management LLC raised its position in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Principal Financial Group in the fourth quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC bought a new stake in Principal Financial Group in the fourth quarter valued at approximately $54,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Morgan Stanley lowered their price objective on Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Barclays cut their target price on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a research report on Friday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.69.

Principal Financial Group Stock Up 0.9 %

PFG stock opened at $72.61 on Friday. The stock’s 50 day simple moving average is $82.79 and its 200 day simple moving average is $83.08. The company has a market cap of $16.38 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.13%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 44.91%.

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.