Sound Income Strategies LLC Purchases 18,538 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Sound Income Strategies LLC boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 8.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 228,677 shares of the company’s stock after buying an additional 18,538 shares during the quarter. Principal Financial Group comprises approximately 1.1% of Sound Income Strategies LLC’s investment portfolio, making the stock its 28th largest position. Sound Income Strategies LLC’s holdings in Principal Financial Group were worth $17,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the 3rd quarter worth about $33,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group during the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC lifted 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 valued at $43,000 after purchasing an additional 195 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.3 %

Shares of Principal Financial Group stock opened at $81.87 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a market cap of $18.73 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The company’s 50 day moving average is $81.05 and its 200 day moving average is $82.24.

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

Analyst Ratings Changes

A number of brokerages have issued reports on PFG. Morgan Stanley reiterated an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Bank of America lowered their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Barclays lifted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut 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 report on Friday, January 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.92.

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.