Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 550 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,051 shares of the company’s stock after selling 550 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Principal Financial Group were worth $468,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new position in Principal Financial Group in the third quarter worth approximately $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group during the third quarter worth approximately $43,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Principal Financial Group during the 3rd quarter valued at $45,000. Finally, Capital Performance Advisors LLP acquired a new position in Principal Financial Group during the third quarter worth $50,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.6 %

Principal Financial Group stock opened at $83.38 on Thursday. The firm has a 50 day moving average price of $80.77 and a 200-day moving average price of $82.26. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a market capitalization of $19.07 billion, a P/E ratio of -92.64, a P/E/G ratio of 0.80 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PFG. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Bank of America cut their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.92.

Principal Financial Group Company 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.