Creative Planning Sells 3,357 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Creative Planning cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 6.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,428 shares of the company’s stock after selling 3,357 shares during the quarter. Creative Planning’s holdings in Principal Financial Group were worth $3,988,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Principal Financial Group by 2.2% in the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after buying an additional 135 shares during the last quarter. Ballentine Partners LLC boosted its position in Principal Financial Group by 5.0% in the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after buying an additional 138 shares during the last quarter. Graypoint LLC boosted its position in Principal Financial Group by 5.6% in the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after buying an additional 140 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Principal Financial Group by 18.2% in the second quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock valued at $76,000 after buying an additional 143 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in Principal Financial Group by 2.7% in the second quarter. Legacy Financial Advisors Inc. now owns 5,575 shares of the company’s stock valued at $437,000 after buying an additional 145 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of PFG opened at $83.71 on Friday. The stock has a 50-day simple moving average of $83.87 and a 200-day simple moving average of $81.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $19.62 billion, a PE ratio of 15.98, a PEG ratio of 0.95 and a beta of 1.19. Principal Financial Group, Inc. has a 1 year low of $66.71 and a 1 year high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its 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). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the business posted $1.53 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PFG has been the topic of several recent research reports. Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada upped their price objective on 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. Wells Fargo & Company upped their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. 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 company’s stock. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $85.58.

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.