Callan Family Office LLC Makes New $272,000 Investment in Principal Financial Group, Inc. (NYSE:PFG)

Callan Family Office LLC purchased a new position in Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,520 shares of the company’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hartford Funds Management Co LLC increased its position in Principal Financial Group by 1.5% in the fourth quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock worth $870,000 after buying an additional 161 shares in the last quarter. Freestone Capital Holdings LLC grew its position in shares of Principal Financial Group by 0.9% during the fourth quarter. Freestone Capital Holdings LLC now owns 35,356 shares of the company’s stock worth $2,737,000 after purchasing an additional 332 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth about $1,325,000. Raymond James Financial Inc. purchased a new stake in shares of Principal Financial Group during the fourth quarter worth about $15,821,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth about $4,632,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the subject of several research analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Barclays increased their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Price Performance

NYSE:PFG opened at $83.68 on Tuesday. The firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.76 and a beta of 1.17. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The business has a 50 day simple moving average of $82.69 and a 200-day simple moving average of $83.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

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 paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.59%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) 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.