Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 212,050 shares of the company's stock after buying an additional 18,481 shares during the period. Allianz Asset Management GmbH owned 0.09% of Principal Financial Group worth $17,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PFG. Tompkins Financial Corp purchased a new stake in shares of Principal Financial Group during the 1st quarter valued at $55,000. Blackhawk Capital Partners LLC. purchased a new stake in shares of Principal Financial Group during the 1st quarter valued at $281,000. SG Americas Securities LLC purchased a new stake in shares of Principal Financial Group during the 1st quarter valued at $943,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Principal Financial Group by 2.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company's stock valued at $44,433,000 after purchasing an additional 13,483 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Principal Financial Group by 802.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after purchasing an additional 3,296,608 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays increased their price objective on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Morgan Stanley restated an "underweight" rating and issued a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. Wells Fargo & Company raised their target price on Principal Financial Group from $69.00 to $73.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, UBS Group reduced their target price on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of "Hold" and an average target price of $86.30.

Principal Financial Group Stock Performance

PFG traded down $0.93 during midday trading on Monday, hitting $80.12. 316,273 shares of the company were exchanged, compared to its average volume of 1,389,911. The company's 50 day simple moving average is $78.63 and its 200 day simple moving average is $79.93. The firm has a market capitalization of $17.96 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period last year, the company earned $1.65 EPS. As a group, sell-side analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

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.