Principal Financial Group, Inc. (NASDAQ:PFG) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,050 shares of the company’s stock after acquiring an additional 8,767 shares during the period. Commonwealth Equity Services LLC’s holdings in Principal Financial Group were worth $4,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Principal Financial Group during the 1st quarter worth approximately $29,000. Allegheny Financial Group LTD acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $33,000. Mystic Asset Management Inc. acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $35,000. Clearview Wealth Advisors LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $37,000. Finally, Quent Capital LLC acquired a new position in Principal Financial Group in the 4th quarter valued at $46,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Principal Financial Group from $72.00 to $69.00 in a report on Monday, July 11th. Evercore ISI cut their price target on Principal Financial Group from $78.00 to $72.00 and set an “in-line” rating for the company in a report on Wednesday, July 6th. Piper Sandler cut their price target on Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Citigroup assumed coverage on shares of Principal Financial Group in a research note on Monday, May 23rd. They set a “sell” rating and a $63.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on shares of Principal Financial Group from $72.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 6th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.40.

Principal Financial Group Stock Performance

NASDAQ:PFG opened at $67.98 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a 50-day moving average of $66.87 and a two-hundred day moving average of $70.07. The stock has a market cap of $17.18 billion, a P/E ratio of 11.66, a PEG ratio of 2.36 and a beta of 1.36. Principal Financial Group, Inc. has a 1-year low of $60.97 and a 1-year high of $80.36.

Insider Buying and Selling at Principal Financial Group

In other news, EVP Wee Yee Cheong sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $71.00, for a total value of $710,000.00. Following the sale, the executive vice president now owns 37,093 shares in the company, valued at approximately $2,633,603. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.17% of the stock is currently owned by corporate insiders.

Principal Financial Group Company Profile

(Get Rating)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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