HB Wealth Management LLC Boosts Holdings in Principal Financial Group, Inc. (NYSE:PFG)

HB Wealth Management LLC lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,180 shares of the company’s stock after acquiring an additional 353 shares during the quarter. HB Wealth Management LLC’s holdings in Principal Financial Group were worth $324,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PFG. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group during the third quarter valued at about $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group during the third quarter worth approximately $43,000. Prospera Private Wealth LLC purchased a new stake in Principal Financial Group during the third quarter valued at about $45,000. Sugarloaf Wealth Management LLC grew its position in Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Principal Financial Group during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $81.87 on Friday. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $81.05 and its two-hundred day simple moving average is $82.24. The company has a market cap of $18.73 billion, a price-to-earnings ratio of -90.97, a PEG ratio of 0.81 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the company posted $1.72 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 7.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PFG shares. Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Morgan Stanley restated an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.92.

About Principal Financial Group

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.