Lombard Odier Asset Management Switzerland SA Has $5.23 Million Position in Principal Financial Group, Inc. $PFG

Lombard Odier Asset Management Switzerland SA lifted its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 34.5% in the first quarter, HoldingsChannel.com reports. The fund owned 58,079 shares of the company’s stock after buying an additional 14,900 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Principal Financial Group were worth $5,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFG. DV Equities LLC acquired a new position in Principal Financial Group during the 4th quarter worth approximately $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Principal Financial Group during the fourth quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Principal Financial Group during the fourth quarter worth $26,000. Valley Wealth Managers Inc. bought a new position in Principal Financial Group in the first quarter valued at about $27,000. Finally, MBM Wealth Consultants LLC bought a new position in Principal Financial Group in the 1st quarter valued at approximately $28,000. 75.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Principal Financial Group from $107.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Weiss Ratings downgraded Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Principal Financial Group from $102.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Jefferies Financial Group upped their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Finally, Wells Fargo & Company lowered their target price on shares of Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $105.00.

Principal Financial Group Price Performance

Shares of NASDAQ:PFG opened at $109.40 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $108.14 and its 200-day moving average price is $98.37. Principal Financial Group, Inc. has a one year low of $75.00 and a one year high of $114.90. The firm has a market capitalization of $23.63 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.05 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. On average, equities research analysts anticipate that Principal Financial Group, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Transactions at Principal Financial Group

In other news, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the transaction, the general counsel owned 21,906 shares in the company, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $103.16, for a total transaction of $777,207.44. Following the completion of the sale, the insider directly owned 66,443 shares of the company’s stock, valued at approximately $6,854,259.88. This trade represents a 10.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 28,317 shares of company stock worth $2,884,902. Corporate insiders own 1.13% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.