Principal Financial Group Inc. Has $1.59 Million Stock Position in Bank of Montreal (NYSE:BMO)

Principal Financial Group Inc. lessened its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 23.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,600 shares of the bank’s stock after selling 5,400 shares during the period. Principal Financial Group Inc.’s holdings in Bank of Montreal were worth $1,590,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BMO. D.A. Davidson & CO. raised its holdings in Bank of Montreal by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after buying an additional 113 shares in the last quarter. Boltwood Capital Management increased its holdings in shares of Bank of Montreal by 3.1% during the 3rd quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock valued at $372,000 after acquiring an additional 125 shares during the last quarter. Harbour Trust & Investment Management Co lifted its holdings in Bank of Montreal by 2.8% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 6,340 shares of the bank’s stock worth $572,000 after purchasing an additional 172 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Bank of Montreal by 4.5% during the third quarter. Orion Portfolio Solutions LLC now owns 4,771 shares of the bank’s stock worth $430,000 after purchasing an additional 204 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Bank of Montreal by 6.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,667 shares of the bank’s stock valued at $331,000 after purchasing an additional 209 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Price Performance

Shares of BMO stock opened at $96.06 on Friday. The stock has a 50 day moving average of $95.58 and a two-hundred day moving average of $89.71. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $104.63. The company has a market capitalization of $70.09 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.42 and a beta of 1.10.

Bank of Montreal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be paid a $1.1329 dividend. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.72%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is presently 67.34%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $133.00 target price (up previously from $106.00) on shares of Bank of Montreal in a research note on Friday, December 6th. Finally, CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $122.40.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.