Legacy Financial Group LLC Takes Position in Principal Financial Group, Inc. (NYSE:PFG)

Legacy Financial Group LLC acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,965 shares of the company’s stock, valued at approximately $771,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its position in Principal Financial Group by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares during the period. Prime Capital Investment Advisors LLC raised its position in Principal Financial Group by 2.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after purchasing an additional 142 shares during the period. Empirical Finance LLC raised its position in Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after purchasing an additional 142 shares during the period. Palisade Asset Management LLC raised its position in Principal Financial Group by 2.1% in the 3rd quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock worth $597,000 after purchasing an additional 146 shares during the period. Finally, First Trust Direct Indexing L.P. raised its position in Principal Financial Group by 2.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,479 shares of the company’s stock worth $557,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.0 %

NYSE:PFG opened at $81.83 on Monday. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The company’s 50-day simple moving average is $80.86 and its 200 day simple moving average is $82.28. The firm has a market capitalization of $18.72 billion, a P/E ratio of 11.89, a PEG ratio of 0.80 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period last year, the firm posted $1.72 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 7.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PFG. Barclays lifted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut their price target on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Piper Sandler raised shares of 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. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Wells Fargo & Company cut their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.92.

About Principal Financial Group

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.