Lake Street Advisors Group LLC Raises Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Lake Street Advisors Group LLC increased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 42.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,942 shares of the company’s stock after acquiring an additional 1,183 shares during the period. Lake Street Advisors Group LLC’s holdings in Principal Financial Group were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. City State Bank increased its holdings in shares of Principal Financial Group by 1.7% in the first quarter. City State Bank now owns 8,216 shares of the company’s stock worth $709,000 after purchasing an additional 141 shares during the period. CENTRAL TRUST Co increased its stake in Principal Financial Group by 5.0% in the 1st quarter. CENTRAL TRUST Co now owns 3,179 shares of the company’s stock worth $274,000 after acquiring an additional 151 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Principal Financial Group by 1.3% in the 4th quarter. Verdence Capital Advisors LLC now owns 11,776 shares of the company’s stock valued at $926,000 after acquiring an additional 153 shares in the last quarter. Quent Capital LLC boosted its position in shares of Principal Financial Group by 15.5% during the 4th quarter. Quent Capital LLC now owns 1,185 shares of the company’s stock valued at $93,000 after acquiring an additional 159 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in shares of Principal Financial Group by 3.1% during the first quarter. Jacobi Capital Management LLC now owns 5,301 shares of the company’s stock worth $458,000 after purchasing an additional 160 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 1.5 %

Shares of PFG stock traded down $1.24 during trading hours on Wednesday, reaching $83.73. The company’s stock had a trading volume of 1,063,854 shares, compared to its average volume of 1,098,586. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a one year low of $66.21 and a one year high of $88.26. The stock has a market capitalization of $19.62 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.94 and a beta of 1.21. The firm’s fifty day simple moving average is $81.20 and its 200 day simple moving average is $81.03.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the firm earned $1.48 EPS. Equities research analysts expect that Principal Financial Group, Inc. will post 7.43 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their target price for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Raymond James upgraded shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, July 9th. Evercore ISI upped their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler increased their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Citigroup lifted their price target on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $85.42.

Principal Financial Group Company 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.