Avantax Planning Partners Inc. Lowers Stock Holdings in Principal Financial Group, Inc. (NASDAQ:PFG)

Avantax Planning Partners Inc. lessened its stake in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 36,554 shares of the company’s stock after selling 766 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Principal Financial Group were worth $2,683,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PFG. Concord Wealth Partners lifted its stake in Principal Financial Group by 3.1% during the first quarter. Concord Wealth Partners now owns 4,751 shares of the company’s stock worth $349,000 after purchasing an additional 145 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Principal Financial Group by 0.6% during the first quarter. CIBC Asset Management Inc now owns 25,225 shares of the company’s stock worth $1,852,000 after purchasing an additional 155 shares during the last quarter. CVA Family Office LLC lifted its stake in Principal Financial Group by 29.3% during the first quarter. CVA Family Office LLC now owns 750 shares of the company’s stock worth $55,000 after purchasing an additional 170 shares during the last quarter. Columbus Macro LLC lifted its stake in Principal Financial Group by 0.7% during the first quarter. Columbus Macro LLC now owns 27,192 shares of the company’s stock worth $1,996,000 after purchasing an additional 177 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in Principal Financial Group by 11.7% during the first quarter. AdvisorNet Financial Inc now owns 1,763 shares of the company’s stock worth $129,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Insider Activity at Principal Financial Group

In other Principal Financial Group news, EVP Wee Yee Cheong sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $71.00, for a total transaction of $710,000.00. Following the transaction, the executive vice president now owns 37,093 shares of the company’s stock, valued at approximately $2,633,603. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.17% of the stock is currently owned by company insiders.

Principal Financial Group Stock Up 0.4 %

Shares of PFG stock traded up $0.24 during trading hours on Friday, reaching $68.22. The company had a trading volume of 793,645 shares, compared to its average volume of 1,261,143. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group, Inc. has a twelve month low of $60.97 and a twelve month high of $80.36. The company has a market capitalization of $17.24 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 2.42 and a beta of 1.36. The stock’s fifty day simple moving average is $66.69 and its 200 day simple moving average is $69.96.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut their price target on Principal Financial Group from $85.00 to $78.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Citigroup initiated coverage on Principal Financial Group in a report on Monday, May 23rd. They set a “sell” rating and a $63.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Principal Financial Group from $72.00 to $69.00 in a research report on Monday, July 11th. Piper Sandler decreased their target price on Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. Finally, Morgan Stanley reduced their price objective on Principal Financial Group from $72.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 6th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.40.

About Principal Financial Group

(Get Rating)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

Featured Articles

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group, Inc. (NASDAQ:PFGGet Rating).

Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.