My Legacy Advisors LLC Sells 899 Shares of Principal Financial Group, Inc. (NYSE:PFG)

My Legacy Advisors LLC reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 16.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,541 shares of the company’s stock after selling 899 shares during the period. My Legacy Advisors LLC’s holdings in Principal Financial Group were worth $390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in shares of Principal Financial Group by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after purchasing an additional 135 shares in the last quarter. Ballentine Partners LLC lifted its position in Principal Financial Group by 5.0% in the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after buying an additional 138 shares during the last quarter. Graypoint LLC boosted its stake in Principal Financial Group by 5.6% in the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after buying an additional 140 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Principal Financial Group by 18.2% during the second quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock worth $76,000 after acquiring an additional 143 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in shares of Principal Financial Group by 2.7% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 5,575 shares of the company’s stock valued at $437,000 after purchasing an additional 145 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.3 %

Shares of NYSE PFG opened at $89.92 on Wednesday. The firm has a fifty day simple moving average of $83.35 and a two-hundred day simple moving average of $81.62. The firm has a market capitalization of $20.82 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same period in the previous year, the company earned $1.53 earnings per share. Equities analysts expect that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PFG. Barclays lifted their target price on shares of Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 9th. Piper Sandler boosted 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 Wednesday, October 2nd. Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, July 9th. Morgan Stanley lowered their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Royal Bank of Canada raised their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.