Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its position in Principal Financial Group, Inc. (NYSE:PFG) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,281 shares of the company’s stock after acquiring an additional 301 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Principal Financial Group were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PFG. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the third quarter valued at $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at about $43,000. Sugarloaf Wealth Management LLC grew its position in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Principal Financial Group during the third quarter worth about $45,000. Finally, Capital Performance Advisors LLP bought a new position in Principal Financial Group in the third quarter worth about $50,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Down 1.3 %

PFG stock opened at $82.45 on Friday. The firm’s 50-day moving average is $80.73 and its two-hundred day moving average is $82.27. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of -91.61, a price-to-earnings-growth ratio of 0.82 and a beta of 1.22. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PFG shares. BMO Capital Markets initiated coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. 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. Keefe, Bruyette & Woods cut their target price on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus target price of $84.92.

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.