Lecap Asset Management Ltd. Sells 13,415 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Lecap Asset Management Ltd. reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 58.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,536 shares of the company’s stock after selling 13,415 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Principal Financial Group were worth $819,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of Principal Financial Group by 2.4% during the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock valued at $569,844,000 after buying an additional 152,774 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Principal Financial Group by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock worth $306,393,000 after buying an additional 39,854 shares during the period. Bank of New York Mellon Corp lifted its holdings in Principal Financial Group by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock worth $149,301,000 after buying an additional 53,516 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Principal Financial Group by 6.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,694 shares of the company’s stock worth $59,786,000 after buying an additional 43,190 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Principal Financial Group by 0.5% during the second quarter. Rhumbline Advisers now owns 478,129 shares of the company’s stock worth $37,509,000 after buying an additional 2,487 shares during the period. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

NYSE:PFG opened at $89.58 on Thursday. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $91.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $20.74 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The stock’s 50-day moving average price is $83.62 and its 200-day moving average price is $81.67.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share 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 analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same period in the prior year, the business posted $1.53 earnings per share. As a group, equities analysts expect that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PFG has been the subject of several analyst reports. Bank of America decreased their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Piper Sandler increased their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Citigroup raised their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Barclays raised their target price on Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reduced their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Two investment 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. According to data from MarketBeat, Principal Financial Group has an average rating of “Hold” and an average price target of $85.42.

Principal Financial Group 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.