Martin Capital Partners LLC Lowers Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Martin Capital Partners LLC reduced its position in Principal Financial Group, Inc. (NYSE:PFG) by 64.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,747 shares of the company’s stock after selling 4,968 shares during the quarter. Martin Capital Partners LLC’s holdings in Principal Financial Group were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV boosted its holdings in shares of Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after buying an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after purchasing an additional 215,045 shares during the period. Bank of Montreal Can increased its holdings in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after purchasing an additional 146,473 shares during the period. Mizuho Securities USA LLC raised its holdings in shares of Principal Financial Group by 818.1% during the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after acquiring an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Principal Financial Group by 6,593.7% in the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after purchasing an additional 130,225 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

NYSE:PFG opened at $80.69 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $80.42 and a 200 day simple moving average of $82.12. The stock has a market capitalization of $18.46 billion, a PE ratio of -89.65, a P/E/G ratio of 0.81 and a beta of 1.22. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PFG shares. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company cut 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. Bank of America decreased their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Barclays increased their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Principal Financial Group has an average rating of “Hold” and an average target price of $84.92.

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.