Principal Financial Group, Inc. $PFG Shares Sold by Strs Ohio

Strs Ohio decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 82.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,310 shares of the company’s stock after selling 25,602 shares during the quarter. Strs Ohio’s holdings in Principal Financial Group were worth $440,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Principal Financial Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 27,345,064 shares of the company’s stock valued at $2,172,018,000 after buying an additional 97,149 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Principal Financial Group by 9.6% in the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock worth $982,617,000 after acquiring an additional 1,083,991 shares during the period. Norges Bank bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $227,098,000. Invesco Ltd. boosted its holdings in shares of Principal Financial Group by 5.4% in the second quarter. Invesco Ltd. now owns 2,740,463 shares of the company’s stock valued at $217,675,000 after acquiring an additional 139,953 shares in the last quarter. Finally, Amundi raised its holdings in Principal Financial Group by 57.6% during the second quarter. Amundi now owns 1,791,246 shares of the company’s stock worth $144,213,000 after purchasing an additional 654,408 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Insider Activity at Principal Financial Group

In other news, EVP Wee Yee Cheong sold 1,887 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total transaction of $160,470.48. Following the sale, the executive vice president owned 81,421 shares in the company, valued at $6,924,041.84. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Deanna D. Strable-Soethout sold 9,300 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the sale, the chief executive officer owned 144,168 shares of the company’s stock, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,512 shares of company stock worth $1,815,630. 1.08% of the stock is currently owned by insiders.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $94.72 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $21.10 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.76 and a beta of 0.89. The stock’s fifty day simple moving average is $89.25 and its 200 day simple moving average is $83.69. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $95.40.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFG. Piper Sandler upped their target price on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $103.00 price objective on shares of Principal Financial Group in a research note on Monday, January 5th. Morgan Stanley set a $93.00 target price on Principal Financial Group in a research note on Monday, December 15th. UBS Group lifted their target price on Principal Financial Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $92.88.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.