Principal Financial Group, Inc. (NYSE:PFG) Stake Lowered by Forsta AP Fonden

Forsta AP Fonden decreased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,700 shares of the company’s stock after selling 3,500 shares during the period. Forsta AP Fonden’s holdings in Principal Financial Group were worth $4,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group in the third quarter worth approximately $43,000. Sugarloaf Wealth Management LLC increased its stake in shares of Principal Financial Group by 53.6% during the 4th 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 bought a new position in shares of Principal Financial Group during the 3rd quarter valued at $45,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 1.3 %

PFG stock opened at $82.45 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 market cap of $18.86 billion, a PE ratio of -91.61, a price-to-earnings-growth ratio of 0.82 and a beta of 1.22. The business’s 50-day simple moving average is $80.73 and its 200 day simple moving average is $82.27. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Analyst Ratings Changes

Several research firms have commented on PFG. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reduced 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 note on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.