Wakefield Asset Management LLLP Buys Shares of 21,318 Principal Financial Group, Inc. (NYSE:PFG)

Wakefield Asset Management LLLP purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 21,318 shares of the company's stock, valued at approximately $1,799,000.

A number of other large investors have also added to or reduced their stakes in PFG. HighTower Advisors LLC grew its holdings in Principal Financial Group by 8.1% during the 4th quarter. HighTower Advisors LLC now owns 14,451 shares of the company's stock valued at $1,119,000 after purchasing an additional 1,080 shares in the last quarter. Virtu Financial LLC bought a new position in Principal Financial Group during the 4th quarter valued at $271,000. Mizuho Securities USA LLC boosted its stake in Principal Financial Group by 44.4% during the 4th quarter. Mizuho Securities USA LLC now owns 19,944 shares of the company's stock valued at $1,544,000 after acquiring an additional 6,128 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Principal Financial Group during the 4th quarter valued at $6,142,000. Finally, LPL Financial LLC boosted its stake in Principal Financial Group by 4.4% during the 4th quarter. LPL Financial LLC now owns 106,747 shares of the company's stock valued at $8,263,000 after acquiring an additional 4,478 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFG has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Barclays raised their price target on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Piper Sandler raised their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Wells Fargo & Company increased their price objective on shares of Principal Financial Group from $69.00 to $73.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $75.00 price objective (up previously from $71.00) on shares of Principal Financial Group in a report on Monday, July 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Hold" and an average target price of $86.30.

Principal Financial Group Price Performance

Shares of PFG traded up $0.72 during mid-day trading on Friday, hitting $81.05. The company's stock had a trading volume of 737,934 shares, compared to its average volume of 1,398,396. The firm has a 50-day moving average price of $78.63 and a 200 day moving average price of $79.91. The stock has a market capitalization of $18.17 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter last year, the firm earned $1.65 earnings per share. On average, research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Company Profile

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.