Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 7,853 shares of the company’s stock after selling 150 shares during the period. Plimoth Trust Co. LLC’s holdings in Principal Financial Group were worth $608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nilsine Partners LLC grew its holdings in Principal Financial Group by 12.7% in the fourth quarter. Nilsine Partners LLC now owns 4,743 shares of the company’s stock valued at $367,000 after purchasing an additional 536 shares during the last quarter. KBC Group NV lifted its position in shares of Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after acquiring an additional 232,915 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Principal Financial Group by 19.1% in the fourth quarter. Blue Trust Inc. now owns 3,272 shares of the company’s stock valued at $281,000 after acquiring an additional 524 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at $771,000. Finally, Fifth Third Bancorp lifted its position in shares of Principal Financial Group by 2.5% in the fourth quarter. Fifth Third Bancorp now owns 9,475 shares of the company’s stock valued at $733,000 after acquiring an additional 228 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods cut their price objective on 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. Wells Fargo & Company cut their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Barclays raised 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. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group has an average rating of “Hold” and an average target price of $84.92.

Principal Financial Group Stock Performance

Shares of PFG traded up $0.86 during mid-day trading on Wednesday, hitting $83.75. The stock had a trading volume of 73,353 shares, compared to its average volume of 1,099,261. The company has a market cap of $19.16 billion, a PE ratio of -93.12, a PEG ratio of 0.80 and a beta of 1.22. The company’s fifty day simple moving average is $80.77 and its two-hundred day simple moving average is $82.26. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97.

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.