Sterling Capital Management LLC Purchases 23,779 Shares of Principal Financial Group, Inc. $PFG

Key Points

• Sterling Capital Management increased its Principal Financial Group stake by 277.5% in the third quarter, purchasing 23,779 additional shares for a total holding valued at approximately $3.62 million.
• Institutional investors and hedge funds own 75.08% of Principal Financial Group. The stock recently opened at $108.57, within its 52-week range of $79.45 to $121.18.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $108.67. Principal exceeded quarterly EPS expectations, reporting $2.50 versus the $2.33 consensus estimate.

Sterling Capital Management LLC grew its position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 277.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,348 shares of the company's stock after purchasing an additional 23,779 shares during the period. Sterling Capital Management LLC's holdings in Principal Financial Group were worth $3,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. XXI Wealth LLC boosted its position in Principal Financial Group by 4.5% during the 3rd quarter. XXI Wealth LLC now owns 2,836 shares of the company's stock worth $318,000 after acquiring an additional 123 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Principal Financial Group by 0.6% during the 3rd quarter. Yousif Capital Management LLC now owns 27,391 shares of the company's stock worth $3,067,000 after acquiring an additional 158 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at approximately $108,000. JSF Financial LLC raised its holdings in shares of Principal Financial Group by 5.1% in the third quarter. JSF Financial LLC now owns 13,227 shares of the company's stock valued at $1,481,000 after purchasing an additional 637 shares during the last quarter. Finally, Vest Financial LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at approximately $2,008,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of NASDAQ PFG opened at $108.57 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average price of $112.27 and a 200 day moving average price of $108.07. The stock has a market capitalization of $23.25 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. Principal Financial Group, Inc. has a 52 week low of $79.45 and a 52 week high of $121.18.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%. During the same quarter in the previous year, the firm earned $2.16 EPS. Analysts predict that Principal Financial Group, Inc. will post 9.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on PFG shares. Raymond James Financial reissued an "outperform" rating and issued a $121.00 price objective on shares of Principal Financial Group in a research report on Monday, August 17th. Barclays decreased their target price on shares of Principal Financial Group from $92.00 to $86.00 and set an "underweight" rating for the company in a research report on Wednesday, October 7th. Morgan Stanley lifted their price target on shares of Principal Financial Group from $107.00 to $112.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Atlantic Securities set a $94.00 price target on shares of Principal Financial Group in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $117.00 to $115.00 and set a "market perform" rating on the stock in a research report on Friday, October 9th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $108.67.

About Principal Financial Group

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.

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