AustralianSuper Pty Ltd Increases Stake in Principal Financial Group, Inc. $PFG

AustralianSuper Pty Ltd grew its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 11.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 993,643 shares of the company’s stock after purchasing an additional 100,397 shares during the quarter. AustralianSuper Pty Ltd owned about 0.44% of Principal Financial Group worth $78,925,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of 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. Oppenheimer & Co. Inc. lifted its position in shares of Principal Financial Group by 19.9% during the first quarter. Oppenheimer & Co. Inc. now owns 11,708 shares of the company’s stock worth $988,000 after acquiring an additional 1,945 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Principal Financial Group by 203.9% in the first 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 period. Robeco Institutional Asset Management B.V. grew its position in shares of Principal Financial Group by 16.3% in 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. Finally, Diversified Trust Co bought a new stake in shares of Principal Financial Group during the 1st quarter valued at $1,249,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PFG shares. Barclays lifted their target price on Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $88.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Morgan Stanley raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $80.00 to $81.00 in a report on Thursday. UBS Group increased their price objective on Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Finally, Piper Sandler set a $94.00 target price on Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average target price of $88.70.

Principal Financial Group Trading Up 0.2%

Shares of PFG stock opened at $79.62 on Monday. The business has a 50-day moving average price of $80.91 and a two-hundred day moving average price of $78.71. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $90.31. 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 firm has a market cap of $17.74 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $1.63 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

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.