Janney Montgomery Scott LLC Has $1.57 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Janney Montgomery Scott LLC cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,224 shares of the company’s stock after selling 1,540 shares during the period. Janney Montgomery Scott LLC’s holdings in Principal Financial Group were worth $1,566,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PFG. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group in the third quarter worth $43,000. Sugarloaf Wealth Management LLC grew its holdings in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at $45,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Principal Financial Group in the third quarter valued at $50,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research 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 objective on the stock in a report on Wednesday, December 18th. Keefe, Bruyette & Woods decreased their price target on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Wells Fargo & Company decreased their price objective 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. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.92.

Principal Financial Group Trading Down 1.8 %

NYSE:PFG opened at $80.97 on Tuesday. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of -89.97, a PEG ratio of 0.81 and a beta of 1.22. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The business’s 50-day moving average price is $80.66 and its two-hundred day moving average price is $82.18. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group 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.