Principal Financial Group, Inc. (NYSE:PFG) is Trust Point Inc.’s 7th Largest Position

Trust Point Inc. reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,044 shares of the company’s stock after selling 50,288 shares during the period. Principal Financial Group comprises about 2.0% of Trust Point Inc.’s holdings, making the stock its 7th largest holding. Trust Point Inc. owned approximately 0.16% of Principal Financial Group worth $28,645,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PFG. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the 3rd quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at approximately $43,000. Prospera Private Wealth LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at approximately $45,000. Sugarloaf Wealth Management LLC grew its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Principal Financial Group in the 3rd quarter valued at approximately $50,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 1.8 %

Shares of PFG opened at $80.97 on Tuesday. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The stock has a market capitalization of $18.52 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a fifty day moving average of $80.66 and a 200-day moving average of $82.18.

Wall Street Analyst Weigh In

PFG has been the topic of several recent research reports. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Barclays lifted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Bank of America decreased their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.92.

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.