Argent Trust Co Has $2.27 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Argent Trust Co lifted its position in Principal Financial Group, Inc. (NYSE:PFG) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,345 shares of the company’s stock after purchasing an additional 161 shares during the quarter. Argent Trust Co’s holdings in Principal Financial Group were worth $2,272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Principal Financial Group in the 4th quarter valued at $15,821,000. Azimuth Capital Investment Management LLC increased its stake in Principal Financial Group by 4.0% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 72,000 shares of the company’s stock valued at $5,574,000 after acquiring an additional 2,785 shares during the period. APG Asset Management N.V. bought a new position in Principal Financial Group during the fourth quarter worth about $9,494,000. Advisory Services Network LLC boosted its holdings in Principal Financial Group by 32.1% during the fourth quarter. Advisory Services Network LLC now owns 3,568 shares of the company’s stock valued at $276,000 after purchasing an additional 868 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Principal Financial Group by 124.1% in the 4th quarter. Bank of Nova Scotia now owns 156,826 shares of the company’s stock valued at $12,140,000 after purchasing an additional 86,851 shares during the period. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PFG shares. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Morgan Stanley dropped their target price on shares of Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday. UBS Group upped their price objective on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their target price on Principal Financial Group from $74.00 to $68.00 and set an “underweight” rating on the stock in a report on Thursday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average price target of $85.07.

Principal Financial Group Price Performance

Shares of PFG opened at $71.96 on Friday. 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 $16.23 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The stock’s 50-day moving average price is $82.95 and its two-hundred day moving average price is $83.16. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.17%. The ex-dividend date was Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. 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.