Principal Financial Group, Inc. $PFG Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in Principal Financial Group, Inc. (NASDAQ:PFG) by 19.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 555,487 shares of the company’s stock after selling 132,541 shares during the period. First Trust Advisors LP’s holdings in Principal Financial Group were worth $50,055,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PFG. DV Equities LLC bought a new position in Principal Financial Group during the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC acquired a new position in Principal Financial Group during the 4th quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Principal Financial Group in the 4th quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Principal Financial Group in the 1st quarter worth about $27,000. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Principal Financial Group in the 1st quarter valued at about $28,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $109.40 on Monday. Principal Financial Group, Inc. has a 1 year low of $75.00 and a 1 year high of $114.90. The firm’s 50-day moving average is $108.14 and its 200-day moving average is $98.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $23.63 billion, a P/E ratio of 15.65, a PEG ratio of 1.05 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, equities analysts expect that Principal Financial Group, Inc. will post 9.45 earnings per share for the current year.

Analyst Ratings Changes

PFG has been the topic of several research analyst reports. Citigroup cut shares of Principal Financial Group from a “sell” rating to an “underperform” rating in a research report on Wednesday, June 24th. Evercore set a $108.00 price objective on Principal Financial Group in a research note on Monday, April 27th. Morgan Stanley increased 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. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $102.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Finally, Barclays lifted their target price on Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $105.00.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the transaction, the general counsel directly owned 21,906 shares in the company, valued at $2,208,781.98. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wee Yee Cheong sold 9,183 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $101.26, for a total value of $929,870.58. Following the transaction, the insider directly owned 77,188 shares of the company’s stock, valued at $7,816,056.88. This trade represents a 10.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,317 shares of company stock worth $2,884,902 in the last three months. 1.13% of the stock is currently owned by corporate insiders.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.