Principal Financial Group, Inc. $PFG Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 817,959 shares of the company’s stock after selling 175,684 shares during the quarter. AustralianSuper Pty Ltd owned about 0.37% of Principal Financial Group worth $67,817,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PFG. Integrated Wealth Concepts LLC purchased a new stake in shares of Principal Financial Group during the 1st quarter worth about $244,000. NewEdge Advisors LLC lifted its position in Principal Financial Group by 24.1% during the first quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock valued at $633,000 after buying an additional 1,455 shares in the last quarter. Empowered Funds LLC grew its stake in Principal Financial Group by 11.9% during the first quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after buying an additional 497 shares during the period. One Wealth Advisors LLC acquired a new stake in shares of Principal Financial Group in the second quarter worth $287,000. Finally, CHURCHILL MANAGEMENT Corp increased its position in shares of Principal Financial Group by 3.0% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 112,590 shares of the company’s stock worth $8,943,000 after acquiring an additional 3,272 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Deanna D. Strable-Soethout sold 8,025 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $92.56, for a total value of $742,794.00. Following the completion of the sale, the chief executive officer directly owned 54,227 shares of the company’s stock, valued at approximately $5,019,251.12. This represents a 12.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,212 shares of company stock worth $931,014 in the last ninety days. Corporate insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the topic of several recent research reports. Barclays restated an “underweight” rating and set a $85.00 target price on shares of Principal Financial Group in a report on Thursday, January 8th. Morgan Stanley set a $93.00 price objective on Principal Financial Group in a research report on Monday, December 15th. 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. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Evercore ISI raised their target price on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. 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’s stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of “Reduce” and an average price target of $92.88.

Principal Financial Group Stock Up 2.0%

Shares of NYSE:PFG opened at $94.05 on Thursday. The firm has a market cap of $20.95 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. The company has a fifty day simple moving average of $88.79 and a 200 day simple moving average of $83.49. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $94.34.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, October 27th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.05 EPS. On average, equities research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Company 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.