Principal Financial Group, Inc. $PFG Stake Cut by Strs Ohio

Strs Ohio cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 82.8% in the third quarter, HoldingsChannel reports. The fund owned 5,310 shares of the company’s stock after selling 25,602 shares during the quarter. Strs Ohio’s holdings in Principal Financial Group were worth $440,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Principal Financial Group during the first quarter worth approximately $244,000. NewEdge Advisors LLC lifted its position in Principal Financial Group by 24.1% in the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock worth $633,000 after buying an additional 1,455 shares in the last quarter. Empowered Funds LLC lifted its position in Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after buying an additional 497 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Principal Financial Group by 6.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,847 shares of the company’s stock valued at $2,212,000 after buying an additional 1,678 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Principal Financial Group during the 2nd quarter valued at $500,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PFG. Keefe, Bruyette & Woods increased their price objective on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Morgan Stanley set a $93.00 target price on Principal Financial Group in a research report on Monday, December 15th. Wells Fargo & Company lifted their price target on Principal Financial Group from $74.00 to $85.00 and gave the company an “underweight” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $103.00 price target on shares of Principal Financial Group in a research note on Monday, January 5th. Finally, UBS Group increased their price objective on Principal Financial Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Principal Financial Group has a consensus rating of “Reduce” and an average target price of $92.88.

Principal Financial Group Stock Down 0.0%

Shares of PFG stock opened at $94.72 on Friday. The stock’s 50 day simple moving average is $89.25 and its 200 day simple moving average is $83.69. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $95.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.76 and a beta of 0.89.

Insider Activity at Principal Financial Group

In other news, EVP Wee Yee Cheong sold 1,887 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the sale, the executive vice president directly owned 81,421 shares in the company, valued at approximately $6,924,041.84. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Deanna D. Strable-Soethout sold 9,300 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total transaction of $884,616.00. Following the sale, the chief executive officer directly owned 144,168 shares of the company’s stock, valued at approximately $13,713,260.16. This represents a 6.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 19,512 shares of company stock worth $1,815,630. Corporate insiders own 1.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.