Fort Washington Investment Advisors Inc. OH Cuts Stake in Principal Financial Group, Inc. (NYSE:PFG)

Fort Washington Investment Advisors Inc. OH lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 19.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 304,197 shares of the company’s stock after selling 72,286 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Principal Financial Group were worth $23,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Principal Financial Group by 85.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after acquiring an additional 215,045 shares in the last quarter. Bank of Montreal Can increased its position in Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Principal Financial Group by 818.1% during the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after purchasing an additional 136,021 shares in the last quarter. International Assets Investment Management LLC raised its stake in Principal Financial Group by 6,593.7% during the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after purchasing an additional 130,225 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after purchasing an additional 118,722 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

PFG stock opened at $81.66 on Thursday. The firm has a market cap of $18.68 billion, a price-to-earnings ratio of -90.73, a PEG ratio of 0.80 and a beta of 1.22. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $81.15 and its two-hundred day simple moving average is $82.25.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the previous year, the business earned $1.72 EPS. Analysts predict that Principal Financial Group, Inc. will post 7.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PFG shares. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods dropped their target price on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Wednesday, December 18th. Finally, Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.25.

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.