Deanna Strable-Soethout Sells 9,300 Shares of Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group, Inc. (NYSE:PFG) CEO Deanna Strable-Soethout sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the completion of the sale, the chief executive officer directly owned 144,168 shares in the company, valued at approximately $13,713,260.16. This represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Principal Financial Group Stock Down 0.0%

PFG stock opened at $94.72 on Friday. The business has a 50 day moving average of $89.25 and a 200 day moving average of $83.69. The firm has a market cap of $21.10 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $95.40. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PFG shares. Wells Fargo & Company lifted their price objective on Principal Financial Group from $74.00 to $85.00 and gave the stock an “underweight” rating in a report on Tuesday, January 13th. Piper Sandler upped their price target on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. UBS Group lifted their target price on Principal Financial Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Finally, Evercore ISI lifted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Principal Financial Group currently has a consensus rating of “Reduce” and an average price target of $92.88.

Institutional Investors Weigh In On Principal Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Principal Financial Group in the second quarter worth $227,098,000. Bank of America Corp DE raised its position in Principal Financial Group by 9.6% during the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock valued at $982,617,000 after purchasing an additional 1,083,991 shares in the last quarter. UBS Group AG lifted its holdings in shares of Principal Financial Group by 62.3% in the 3rd quarter. UBS Group AG now owns 2,023,880 shares of the company’s stock worth $167,800,000 after buying an additional 776,997 shares during the period. Amundi grew its position in shares of Principal Financial Group by 57.6% during the 2nd quarter. Amundi now owns 1,791,246 shares of the company’s stock worth $144,213,000 after buying an additional 654,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Principal Financial Group by 1,048.8% during the third quarter. Assenagon Asset Management S.A. now owns 697,735 shares of the company’s stock valued at $57,849,000 after buying an additional 637,001 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.