Vest Financial LLC Acquires New Shares in Principal Financial Group, Inc. $PFG

Vest Financial LLC acquired a new position in Principal Financial Group, Inc. (NASDAQ:PFG) during the third quarter, HoldingsChannel reports. The institutional investor acquired 17,937 shares of the company’s stock, valued at approximately $2,008,000.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Principal Financial Group during the second quarter valued at approximately $2,157,181,000. State Street Corp lifted its stake in Principal Financial Group by 0.8% in the second quarter. State Street Corp now owns 10,264,856 shares of the company’s stock worth $1,106,346,000 after acquiring an additional 85,014 shares during the period. Bank of America Corp DE boosted its holdings in Principal Financial Group by 5.0% in the first quarter. Bank of America Corp DE now owns 8,819,452 shares of the company’s stock valued at $794,721,000 after acquiring an additional 420,319 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Principal Financial Group by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,886,509 shares of the company’s stock valued at $350,187,000 after acquiring an additional 119,327 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Principal Financial Group by 12.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,216,125 shares of the company’s stock valued at $238,854,000 after acquiring an additional 244,550 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Raymond James Financial reissued an “outperform” rating and set a $121.00 price objective on shares of Principal Financial Group in a research report on Monday, August 17th. JPMorgan Chase & Co. dropped their target price on shares of Principal Financial Group from $107.00 to $106.00 and set a “neutral” rating for the company in a research report on Thursday, October 15th. Piper Sandler raised their target price on shares of Principal Financial Group from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 28th. Bank of America lifted their target price on shares of Principal Financial Group from $94.00 to $104.00 and gave the company an “underperform” rating in a research note on Tuesday, July 28th. Finally, Barclays reduced their price target on shares of Principal Financial Group from $92.00 to $86.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 7th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.67.

Principal Financial Group Trading Down 1.4%

PFG opened at $108.57 on Friday. The stock has a market cap of $23.24 billion, a PE ratio of 12.43, a PEG ratio of 1.06 and a beta of 0.86. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $112.27 and a 200-day moving average of $108.07. Principal Financial Group, Inc. has a 52 week low of $79.45 and a 52 week high of $121.18.

Principal Financial Group (NASDAQ:PFG) last released its earnings results on Wednesday, July 29th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm earned $2.16 EPS. Equities research analysts predict that Principal Financial Group, Inc. will post 9.44 earnings per share for the current fiscal year.

Principal Financial Group Company Profile

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.