Impact Partnership Wealth LLC Grows Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Impact Partnership Wealth LLC raised its stake in Principal Financial Group, Inc. (NYSE:PFG) by 25.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,720 shares of the company’s stock after buying an additional 1,576 shares during the period. Impact Partnership Wealth LLC’s holdings in Principal Financial Group were worth $663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in Principal Financial Group during the second quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Principal Financial Group during the 2nd quarter worth $32,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the 2nd quarter worth about $33,000. Riverview Trust Co acquired a new stake in Principal Financial Group in the 1st quarter valued at about $34,000. Finally, Salomon & Ludwin LLC increased its holdings in Principal Financial Group by 319.3% during the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after acquiring an additional 380 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group raised their price target on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Bank of America reduced their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods dropped their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.42.

Principal Financial Group Trading Up 0.3 %

PFG traded up $0.27 during midday trading on Thursday, hitting $89.85. The company’s stock had a trading volume of 28,517 shares, compared to its average volume of 1,111,594. Principal Financial Group, Inc. has a 52-week low of $66.21 and a 52-week high of $91.97. The firm has a 50-day moving average price of $83.62 and a two-hundred day moving average price of $81.67. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.81 billion, a P/E ratio of 17.39, a PEG ratio of 0.95 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same quarter in the previous year, the firm posted $1.53 earnings per share. On average, research analysts anticipate that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group 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.