Healthcare of Ontario Pension Plan Trust Fund Acquires 362,028 Shares of Principal Financial Group, Inc. $PFG

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 157.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 591,931 shares of the company's stock after purchasing an additional 362,028 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.27% of Principal Financial Group worth $53,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prosperity Consulting Group LLC increased its holdings in Principal Financial Group by 1.6% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company's stock worth $624,000 after buying an additional 111 shares in the last quarter. Blue Trust Inc. raised its position in Principal Financial Group by 14.8% in the 1st quarter. Blue Trust Inc. now owns 921 shares of the company's stock worth $83,000 after buying an additional 119 shares during the last quarter. Parallel Advisors LLC lifted its stake in Principal Financial Group by 7.6% during the 4th quarter. Parallel Advisors LLC now owns 1,686 shares of the company's stock valued at $149,000 after acquiring an additional 119 shares during the period. Beacon Financial Group lifted its stake in Principal Financial Group by 2.8% during the 1st quarter. Beacon Financial Group now owns 4,451 shares of the company's stock valued at $401,000 after acquiring an additional 120 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Principal Financial Group by 1.4% during the 4th quarter. Fifth Third Bancorp now owns 9,130 shares of the company's stock valued at $805,000 after acquiring an additional 127 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Insider Activity at Principal Financial Group

In other Principal Financial Group news, insider Wee Yee Cheong sold 7,534 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the transaction, the insider directly owned 66,443 shares in the company, valued at approximately $6,854,259.88. This trade represents a 10.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction on 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 $2,208,781.98. This represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,317 shares of company stock valued at $2,884,902 over the last 90 days. 1.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America reiterated an "underperform" rating and issued a $95.00 price target (down from $98.00) on shares of Principal Financial Group in a research note on Wednesday, June 24th. Barclays increased their price objective on shares of Principal Financial Group from $87.00 to $92.00 and gave the company an "underweight" rating in a research report on Tuesday, July 7th. Weiss Ratings cut shares of Principal Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 1st. Morgan Stanley lifted their target price on shares of Principal Financial Group from $107.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Finally, Piper Sandler boosted their target price on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $105.00.

Principal Financial Group Trading Up 1.9%

Principal Financial Group stock opened at $109.40 on Friday. The business has a 50-day simple moving average of $108.14 and a two-hundred day simple moving average of $98.37. The company has a market cap of $23.63 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.05 and a beta of 0.88. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $114.90. 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 the consensus estimate of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. Analysts predict that Principal Financial Group, Inc. will post 9.45 EPS for the current 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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