IFM Investors Pty Ltd Sells 959 Shares of Principal Financial Group, Inc. (NYSE:PFG)

IFM Investors Pty Ltd lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,574 shares of the company’s stock after selling 959 shares during the period. IFM Investors Pty Ltd’s holdings in Principal Financial Group were worth $4,344,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PFG. EdgeRock Capital LLC bought a new stake in Principal Financial Group in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in Principal Financial Group during the 2nd quarter valued at $32,000. Family Firm Inc. bought a new stake in Principal Financial Group in the 2nd quarter worth $33,000. Salomon & Ludwin LLC increased its position in shares of Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after acquiring an additional 380 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Principal Financial Group during the second quarter valued at about $43,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $83.71 on Friday. The firm has a market cap of $19.62 billion, a P/E ratio of 15.98, a PEG ratio of 0.95 and a beta of 1.19. Principal Financial Group, Inc. has a twelve month low of $66.71 and a twelve month high of $91.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $84.00 and a 200 day moving average of $81.72.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.24). The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same period last year, the business earned $1.53 earnings per share. As a group, research analysts expect that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PFG shares. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company boosted their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Bank of America dropped their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Piper Sandler raised their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $85.58.

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.