City State Bank Trims Position in Principal Financial Group, Inc. $PFG

City State Bank lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,302 shares of the company’s stock after selling 405 shares during the quarter. City State Bank’s holdings in Principal Financial Group were worth $659,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFG. GAMMA Investing LLC grew its holdings in Principal Financial Group by 40.8% during the 1st quarter. GAMMA Investing LLC now owns 5,674 shares of the company’s stock valued at $479,000 after buying an additional 1,645 shares in the last quarter. Blue Trust Inc. increased its position in shares of Principal Financial Group by 81.7% in the first quarter. Blue Trust Inc. now owns 1,003 shares of the company’s stock worth $85,000 after purchasing an additional 451 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Principal Financial Group by 19.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,708 shares of the company’s stock worth $988,000 after buying an additional 1,945 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Principal Financial Group by 203.9% during the 1st quarter. Golden State Wealth Management LLC now owns 1,811 shares of the company’s stock worth $153,000 after acquiring an additional 1,215 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Principal Financial Group by 16.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 57,329 shares of the company’s stock valued at $4,837,000 after purchasing an additional 8,054 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $79.62 on Friday. The business has a 50 day moving average of $80.91 and a 200 day moving average of $78.64. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $17.74 billion, a PE ratio of 11.92, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $90.31.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the prior year, the business earned $1.63 earnings per share. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays upped their target price on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on Principal Financial Group from $88.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. boosted their price objective on Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Evercore ISI boosted their price objective on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Finally, UBS Group boosted their price objective on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $88.70.

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.