Plimoth Trust Co. LLC Decreases Stake in Principal Financial Group, Inc. (NYSE:PFG)

Plimoth Trust Co. LLC trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,853 shares of the company’s stock after selling 150 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Principal Financial Group were worth $608,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth about $33,000. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth about $43,000. Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth about $45,000. Sugarloaf Wealth Management LLC increased its position in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth about $50,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NYSE PFG traded up $0.86 on Wednesday, reaching $83.75. The stock had a trading volume of 73,353 shares, compared to its average volume of 1,099,261. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The business’s 50-day moving average price is $80.77 and its 200 day moving average price is $82.26. The stock has a market cap of $19.16 billion, a P/E ratio of -93.12, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PFG. Keefe, Bruyette & Woods dropped their target price on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Barclays boosted their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.92.

About Principal Financial Group

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.