Principal Financial Group Inc. Has $20.43 Million Stock Position in Principal Financial Group, Inc. $PFG

Key Points

• Institutional ownership remains heavy: Principal Financial Group Inc. increased its stake in Principal Financial Group by 5.4% in the first quarter, and institutional investors now own about 75.08% of the company.
• Insiders have been selling shares: General Counsel George Djurasovic and insider Wee Yee Cheong both sold stock recently, and insiders sold 28,317 shares worth about $2.88 million over the last quarter.
• Analysts are cautious overall: The stock has an average analyst rating of Hold with a consensus price target of $105.08, even as some firms slightly raised targets and others maintained sell/underperform views.

Principal Financial Group Inc. raised its holdings in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 226,718 shares of the company's stock after purchasing an additional 11,574 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Principal Financial Group worth $20,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Principal Financial Group by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company's stock valued at $982,617,000 after purchasing an additional 1,083,991 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Principal Financial Group by 23.2% during the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company's stock worth $279,970,000 after purchasing an additional 636,334 shares during the last quarter. Norges Bank bought a new stake in Principal Financial Group during the 4th quarter worth approximately $273,276,000. Morgan Stanley increased its position in Principal Financial Group by 1.8% in the 4th quarter. Morgan Stanley now owns 3,079,857 shares of the company's stock valued at $271,674,000 after acquiring an additional 55,669 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Principal Financial Group by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,498,766 shares of the company's stock valued at $220,416,000 after purchasing an additional 135,631 shares during the period. Institutional investors own 75.08% of the company's stock.

Insider Buying and Selling at Principal Financial Group

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of the firm's 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 directly owned 21,906 shares in the company, valued at approximately $2,208,781.98. This trade represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $103.16, for a total transaction of $777,207.44. Following the transaction, the insider directly owned 66,443 shares in the company, valued at $6,854,259.88. This represents a 10.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 28,317 shares of company stock valued at $2,884,902 in the last quarter. 1.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PFG. Morgan Stanley raised their price target on shares of Principal Financial Group from $107.00 to $112.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Weiss Ratings downgraded Principal Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 1st. Atlantic Securities set a $94.00 price target on Principal Financial Group in a research note on Wednesday, July 15th. Bank of America restated an "underperform" rating and set a $95.00 price target (down from $98.00) on shares of Principal Financial Group in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Principal Financial Group from $101.00 to $106.00 and gave the stock a "neutral" rating in a research report on Tuesday. 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 currently has an average rating of "Hold" and an average price target of $105.08.

Principal Financial Group Trading Down 2.2%

NASDAQ PFG opened at $109.57 on Wednesday. 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, Inc. has a 52 week low of $75.00 and a 52 week high of $114.90. The business has a 50 day moving average price of $107.67 and a 200-day moving average price of $98.03. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.08 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $4.11 billion. During the same period last year, the company earned $1.81 earnings per share. As a group, equities analysts expect that Principal Financial Group, Inc. will post 9.4 earnings per share for the current fiscal year.

About Principal Financial Group

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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