Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,776 shares of the company’s stock after selling 347 shares during the quarter. Mutual Advisors LLC’s holdings in Principal Financial Group were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in PFG. Massachusetts Financial Services Co. MA increased its stake in shares of Principal Financial Group by 85.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after acquiring an additional 215,045 shares during the period. Bank of Montreal Can boosted its position in Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after purchasing an additional 130,225 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after buying an additional 118,722 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports 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 objective on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. BMO Capital Markets started coverage on Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.92.

Principal Financial Group Stock Performance

PFG opened at $82.89 on Wednesday. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day moving average price of $80.79 and a two-hundred day moving average price of $82.27. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of -92.10, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22.

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.