Assenagon Asset Management S.A. Purchases 660 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Assenagon Asset Management S.A. increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,137 shares of the company’s stock after acquiring an additional 660 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Principal Financial Group were worth $630,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in Principal Financial Group by 4.3% in the second quarter. Pacer Advisors Inc. now owns 15,868 shares of the company’s stock worth $1,245,000 after buying an additional 655 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Principal Financial Group by 4.0% in the 2nd quarter. Sei Investments Co. now owns 25,237 shares of the company’s stock valued at $1,980,000 after acquiring an additional 962 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Principal Financial Group by 428.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 64,226 shares of the company’s stock worth $5,038,000 after acquiring an additional 52,071 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Principal Financial Group by 3.1% during the 2nd quarter. ProShare Advisors LLC now owns 43,794 shares of the company’s stock worth $3,436,000 after purchasing an additional 1,319 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Principal Financial Group by 18.2% during the second quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock valued at $76,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $81.83 on Friday. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market cap of $18.72 billion, a PE ratio of -90.92, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The company’s 50 day moving average is $80.96 and its 200 day moving average is $82.24.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $1.72 earnings per share. On average, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on PFG shares. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research report on Wednesday, December 18th. Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. BMO Capital Markets assumed coverage on Principal Financial Group in a research report on Thursday. They issued a “market perform” rating and a $93.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.92.

About Principal Financial Group

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.