48,868 Shares in Principal Financial Group, Inc. $PFG Bought by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 48,868 shares of the company's stock, valued at approximately $4,403,000.

Several other institutional investors have also recently made changes to their positions in PFG. Eurizon Capital SGR S.p.A. bought a new position in Principal Financial Group in the fourth quarter worth approximately $32,473,000. National Wealth Management Group LLC bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $998,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Principal Financial Group by 47.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company's stock valued at $4,630,000 after acquiring an additional 16,171 shares in the last quarter. LBP AM SA acquired a new position in shares of Principal Financial Group during the fourth quarter worth approximately $10,400,000. Finally, MUFG Securities EMEA plc raised its position in shares of Principal Financial Group by 1,219.5% during the fourth quarter. MUFG Securities EMEA plc now owns 51,196 shares of the company's stock worth $4,516,000 after purchasing an additional 47,316 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Insiders Place Their Bets

In related news, insider Wee Yee Cheong sold 9,183 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider directly owned 77,188 shares of the company's stock, valued at $7,816,056.88. This trade represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel George Djurasovic sold 2,571 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel owned 21,906 shares in the company, valued at approximately $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,317 shares of company stock worth $2,884,902 over the last ninety days. Insiders own 1.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Raymond James Financial downgraded shares of Principal Financial Group from a "strong-buy" rating to an "outperform" rating and lifted their price target for the company from $99.00 to $111.00 in a research report on Tuesday, May 19th. Evercore set a $108.00 price objective on shares of Principal Financial Group in a report on Monday, April 27th. Morgan Stanley raised their price objective on shares of Principal Financial Group from $107.00 to $112.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Barclays lifted their price objective on shares of Principal Financial Group from $87.00 to $92.00 and gave the company an "underweight" rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group boosted their target price on shares of Principal Financial Group from $91.00 to $98.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.00.

Principal Financial Group Stock Down 1.2%

Shares of NASDAQ:PFG opened at $108.25 on Thursday. The business's 50 day moving average is $107.83 and its 200 day moving average is $98.17. Principal Financial Group, Inc. has a 12-month low of $75.00 and a 12-month high of $114.90. The stock has a market cap of $23.38 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.06 and a beta of 0.88. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same period in the prior year, the firm posted $1.81 EPS. On average, sell-side analysts forecast that Principal Financial Group, Inc. will post 9.4 earnings per share for the current fiscal year.

Principal Financial Group Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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