Blue Trust Inc. Increases Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Blue Trust Inc. raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 76.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,748 shares of the company’s stock after buying an additional 1,194 shares during the quarter. Blue Trust Inc.’s holdings in Principal Financial Group were worth $216,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PFG. EdgeRock Capital LLC purchased a new position in shares of Principal Financial Group in the 2nd quarter valued at approximately $26,000. Family Firm Inc. acquired a new position in Principal Financial Group during the 2nd quarter valued at approximately $33,000. Salomon & Ludwin LLC raised its holdings in shares of Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock worth $43,000 after buying an additional 380 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Principal Financial Group during the second quarter valued at $43,000. Finally, MCF Advisors LLC grew its holdings in shares of Principal Financial Group by 55.6% during the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after buying an additional 219 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PFG shares. Morgan Stanley lowered their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a report on Tuesday, July 9th. Jefferies Financial Group increased their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Royal Bank of Canada raised their price target on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Stock Down 6.6 %

PFG opened at $83.71 on Friday. The company has a fifty day moving average of $83.87 and a two-hundred day moving average of $81.73. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.95 and a beta of 1.19. Principal Financial Group, Inc. has a fifty-two week low of $66.71 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.24). The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same quarter in the prior year, the firm earned $1.53 EPS. On average, research analysts expect that Principal Financial Group, Inc. will post 7.31 earnings per share for the current 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.