Principal Financial Group, Inc. $PFG Position Increased by Sterling Capital Management LLC

Sterling Capital Management LLC grew its position in Principal Financial Group, Inc. (NASDAQ:PFG) by 277.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,348 shares of the company’s stock after acquiring an additional 23,779 shares during the period. Sterling Capital Management LLC’s holdings in Principal Financial Group were worth $3,622,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PFG. XXI Wealth LLC lifted its stake in Principal Financial Group by 4.5% in the 3rd quarter. XXI Wealth LLC now owns 2,836 shares of the company’s stock valued at $318,000 after purchasing an additional 123 shares during the last quarter. Yousif Capital Management LLC grew its holdings in Principal Financial Group by 0.6% during the third quarter. Yousif Capital Management LLC now owns 27,391 shares of the company’s stock worth $3,067,000 after purchasing an additional 158 shares during the period. Root Financial Partners LLC bought a new position in Principal Financial Group during the third quarter worth about $108,000. JSF Financial LLC increased its position in Principal Financial Group by 5.1% during the third quarter. JSF Financial LLC now owns 13,227 shares of the company’s stock worth $1,481,000 after buying an additional 637 shares during the last quarter. Finally, Vest Financial LLC acquired a new position in Principal Financial Group during the third quarter worth approximately $2,008,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

Shares of PFG opened at $108.57 on Friday. The company’s 50-day moving average is $112.27 and its 200-day moving average is $108.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $23.25 billion, a PE ratio of 15.42, a PEG ratio of 1.05 and a beta of 0.86. Principal Financial Group, Inc. has a fifty-two week low of $79.45 and a fifty-two week high of $121.18.

Principal Financial Group (NASDAQ:PFG) last announced its earnings results on Wednesday, July 29th. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.33 by $0.17. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter in the previous year, the firm posted $2.16 EPS. Equities analysts forecast that Principal Financial Group, Inc. will post 9.44 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PFG shares. Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Barclays cut their price objective on Principal Financial Group from $92.00 to $86.00 and set an “underweight” rating for the company in a research report on Wednesday, October 7th. Piper Sandler lifted their target price on Principal Financial Group from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. JPMorgan Chase & Co. decreased their target price on Principal Financial Group from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Finally, Morgan Stanley boosted their target price on Principal Financial Group from $107.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $108.67.

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.