Campbell & CO Investment Adviser LLC Trims Stock Position in Principal Financial Group, Inc. $PFG

Campbell & CO Investment Adviser LLC decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 92.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,756 shares of the company’s stock after selling 34,351 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Principal Financial Group were worth $228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Procyon Advisors LLC grew its holdings in Principal Financial Group by 4.6% during the third quarter. Procyon Advisors LLC now owns 14,171 shares of the company’s stock valued at $1,175,000 after purchasing an additional 629 shares during the period. Vivid Wealth Management LLC increased its stake in shares of Principal Financial Group by 2.4% in the third quarter. Vivid Wealth Management LLC now owns 7,621 shares of the company’s stock worth $632,000 after purchasing an additional 181 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at $128,000. Pinion Investment Advisors LLC lifted its stake in shares of Principal Financial Group by 11.3% during the 3rd quarter. Pinion Investment Advisors LLC now owns 13,224 shares of the company’s stock valued at $1,053,000 after buying an additional 1,342 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Principal Financial Group by 160.3% in the 3rd quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock worth $3,978,000 after buying an additional 30,118 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 1.0%

NYSE PFG opened at $91.21 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. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $92.69. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.76 and a beta of 0.89. The company has a fifty day moving average of $88.13 and a two-hundred day moving average of $83.23.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the prior year, the company earned $2.05 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PFG. Morgan Stanley set a $93.00 price target on Principal Financial Group in a report on Monday, December 15th. Evercore ISI lifted their target price on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods boosted their target price on 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $103.00 price target on shares of Principal Financial Group in a research note on Monday, January 5th. Finally, Piper Sandler lifted their price objective on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Reduce” and an average price target of $92.88.

Insiders Place Their Bets

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 300 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $92.50, for a total value of $27,750.00. Following the transaction, the chief executive officer directly owned 62,252 shares in the company, valued at $5,758,310. This represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wee Yee Cheong sold 1,887 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the transaction, the executive vice president directly owned 81,421 shares in the company, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.08% of the stock is owned by insiders.

Principal Financial Group Profile

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.