Greenleaf Trust Lowers Position in Principal Financial Group, Inc. (NYSE:PFG)

Greenleaf Trust decreased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,684 shares of the company’s stock after selling 129 shares during the quarter. Greenleaf Trust’s holdings in Principal Financial Group were worth $574,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PFG. McClarren Financial Advisors Inc. increased its holdings in shares of Principal Financial Group by 419.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 810 shares of the company’s stock worth $69,000 after buying an additional 654 shares during the last quarter. Raymond James & Associates increased its stake in Principal Financial Group by 36.3% in the third quarter. Raymond James & Associates now owns 116,364 shares of the company’s stock valued at $9,996,000 after acquiring an additional 30,973 shares during the last quarter. Blue Trust Inc. raised its position in Principal Financial Group by 76.8% during the third quarter. Blue Trust Inc. now owns 2,748 shares of the company’s stock valued at $216,000 after purchasing an additional 1,194 shares in the last quarter. Trust Point Inc. lifted its stake in Principal Financial Group by 9.2% during the third quarter. Trust Point Inc. now owns 420,332 shares of the company’s stock worth $36,107,000 after purchasing an additional 35,461 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Principal Financial Group by 13.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 7,692 shares of the company’s stock valued at $661,000 after purchasing an additional 934 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PFG. Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their target price for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Piper Sandler boosted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Raymond James upgraded shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target for the company in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada boosted their target price on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average price target of $85.58.

Principal Financial Group Trading Down 6.6 %

NYSE:PFG opened at $83.71 on Friday. The company has a 50-day moving average price of $83.87 and a 200-day moving average price of $81.73. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 15.98, a P/E/G 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 $66.71 and a 12 month high of $91.97.

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

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.