Lombard Odier Asset Management Switzerland SA Has $5.23 Million Stock Position in Principal Financial Group, Inc. $PFG

Key Points

• Lombard Odier Asset Management Switzerland SA increased its stake in Principal Financial Group by 34.5% in the first quarter, owning 58,079 shares worth about $5.23 million.
• Principal Financial Group reported Q1 EPS of $2.07, topping analyst estimates, though revenue of $3.53 billion came in below expectations.
• Analyst sentiment is mixed: the stock has a Hold consensus rating with an average price target of $105, while insiders have also recently been selling shares.

Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,079 shares of the company's stock after buying an additional 14,900 shares during the quarter. Lombard Odier Asset Management Switzerland SA's holdings in Principal Financial Group were worth $5,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFG. Integrated Wealth Concepts LLC bought a new stake in shares of Principal Financial Group during the first quarter worth $244,000. NewEdge Advisors LLC increased its holdings in Principal Financial Group by 24.1% during the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company's stock worth $633,000 after purchasing an additional 1,455 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company's stock valued at $395,000 after purchasing an additional 497 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Principal Financial Group by 96.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company's stock valued at $181,000 after purchasing an additional 1,117 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Principal Financial Group by 9.1% during the second quarter. Cerity Partners LLC now owns 37,957 shares of the company's stock worth $3,015,000 after buying an additional 3,175 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

NASDAQ:PFG opened at $109.40 on Friday. 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. The firm's fifty day moving average price is $108.14 and its two-hundred day moving average price is $98.37. Principal Financial Group, Inc. has a one year low of $75.00 and a one year high of $114.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its 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. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the prior year, the business earned $1.81 earnings per share. Equities analysts expect that Principal Financial Group, Inc. will post 9.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group boosted their target price on Principal Financial Group from $91.00 to $98.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Citigroup lowered shares of Principal Financial Group from a "sell" rating to an "underperform" rating in a research report on Wednesday, June 24th. Raymond James Financial downgraded shares of Principal Financial Group from a "strong-buy" rating to an "outperform" rating and raised their target price for the company from $99.00 to $111.00 in a research report on Tuesday, May 19th. Atlantic Securities set a $94.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company lowered their target price on Principal Financial Group from $114.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Three equities research 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, Principal Financial Group has a consensus rating of "Hold" and an average target price of $105.00.

Insiders Place Their Bets

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of the 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 trade represents a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $101.26, for a total value of $929,870.58. Following the sale, the insider directly owned 77,188 shares of the company's stock, valued at $7,816,056.88. This represents a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 28,317 shares of company stock worth $2,884,902. Insiders own 1.13% of the company's stock.

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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