DekaBank Deutsche Girozentrale Decreases Holdings in Principal Financial Group, Inc. $PFG

Key Points

• DekaBank Deutsche Girozentrale decreased its holdings in Principal Financial Group by 6.6% during the second quarter, owning 71,558 shares valued at approximately $5.67 million after selling 5,057 shares.
• Analysts have set a consensus price target of $88.70 for Principal Financial Group, with ratings ranging from Buy to Sell.
• Principal Financial Group reported earnings of $2.16 per share for the latest quarter, exceeding the consensus estimate by $0.19 and up from $1.63 in the same quarter last year.

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,558 shares of the company's stock after selling 5,057 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Principal Financial Group were worth $5,670,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group bought a new position in Principal Financial Group in the 2nd quarter worth about $25,000. American National Bank & Trust bought a new position in shares of Principal Financial Group during the second quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new position in shares of Principal Financial Group during the first quarter valued at approximately $32,000. Private Wealth Asset Management LLC lifted its position in Principal Financial Group by 163.4% during the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company's stock valued at $32,000 after acquiring an additional 250 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Principal Financial Group during the first quarter valued at approximately $34,000. 75.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PFG shares. UBS Group increased their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Wells Fargo & Company raised their price target on shares of Principal Financial Group from $72.00 to $73.00 and gave the stock an "underweight" rating in a report on Wednesday, October 8th. Piper Sandler set a $94.00 price target on shares of Principal Financial Group and gave the stock an "overweight" rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley raised shares of Principal Financial Group from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $80.00 to $81.00 in a report on Thursday. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $88.70.

Principal Financial Group Trading Up 0.2%

Shares of Principal Financial Group stock opened at $79.62 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a fifty day moving average price of $80.91 and a 200 day moving average price of $78.64. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $90.31. The stock has a market cap of $17.74 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Equities research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

About Principal Financial Group

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.

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