Principal Financial Group (NYSE:PFG) Reaches New 1-Year High – What’s Next?

Shares of Principal Financial Group, Inc. (NYSE:PFG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $93.88 and last traded at $92.23, with a volume of 1836067 shares changing hands. The stock had previously closed at $93.00.

Analyst Ratings Changes

PFG has been the topic of a number of recent research reports. Piper Sandler upped their target price on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Barclays restated an “underweight” rating and issued a $85.00 price objective on shares of Principal Financial Group in a report on Thursday, January 8th. Morgan Stanley set a $93.00 target price on shares of Principal Financial Group in a research note on Monday, December 15th. Wells Fargo & Company raised their price target on Principal Financial Group from $74.00 to $85.00 and gave the company an “underweight” rating in a research note on Tuesday, January 13th. Finally, Evercore ISI upped their price objective on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $92.88.

Principal Financial Group Trading Up 0.6%

The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a 50 day simple moving average of $89.04 and a 200 day simple moving average of $83.57. The stock has a market capitalization of $21.07 billion, a PE ratio of 14.14, a P/E/G ratio of 0.76 and a beta of 0.89.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period last year, the business posted $2.05 EPS. Analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Insider Activity at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the sale, the executive vice president directly owned 81,421 shares in the company, valued at $6,924,041.84. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Deanna D. Strable-Soethout sold 8,025 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $92.56, for a total value of $742,794.00. Following the completion of the transaction, the chief executive officer owned 54,227 shares of the company’s stock, valued at $5,019,251.12. The trade was a 12.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,212 shares of company stock valued at $931,014 over the last three months. Insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Principal Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Traub Capital Management LLC acquired a new position in shares of Principal Financial Group in the second quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Principal Financial Group in the 4th quarter valued at about $26,000. Capital A Wealth Management LLC lifted its holdings in Principal Financial Group by 5,533.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after purchasing an additional 332 shares in the last quarter. Curio Wealth LLC lifted its holdings in Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock valued at $30,000 after purchasing an additional 378 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of Principal Financial Group by 343.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.