Nordea Investment Management AB Buys 1,839 Shares of Principal Financial Group, Inc. $PFG

Nordea Investment Management AB lifted its stake in Principal Financial Group, Inc. (NYSE:PFG) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,784 shares of the company’s stock after purchasing an additional 1,839 shares during the quarter. Nordea Investment Management AB’s holdings in Principal Financial Group were worth $1,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock worth $312,805,000 after purchasing an additional 3,296,608 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Principal Financial Group by 114.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company’s stock valued at $220,471,000 after purchasing an additional 1,393,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Principal Financial Group by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company’s stock worth $123,917,000 after purchasing an additional 20,221 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Principal Financial Group by 1.7% in the 1st quarter. Royal Bank of Canada now owns 1,080,097 shares of the company’s stock worth $91,128,000 after purchasing an additional 17,969 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in shares of Principal Financial Group by 34.2% in the first quarter. AustralianSuper Pty Ltd now owns 893,246 shares of the company’s stock worth $75,363,000 after purchasing an additional 227,836 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Up 0.4%

Principal Financial Group stock opened at $79.44 on Friday. The business has a 50-day simple moving average of $80.87 and a two-hundred day simple moving average of $78.57. The company has a market cap of $17.70 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $90.31. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the prior year, the company posted $1.63 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Evercore ISI increased their price objective on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Piper Sandler set a $94.00 target price on shares of Principal Financial Group and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Wells Fargo & Company raised their price target on shares of Principal Financial Group from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $80.00 to $81.00 in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $88.70.

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.