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

Impact Partnership Wealth LLC grew its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 25.7% during the third quarter, HoldingsChannel.com reports. The fund owned 7,720 shares of the company’s stock after purchasing an additional 1,576 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Principal Financial Group were worth $663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Research Global Investors raised its position in Principal Financial Group by 2.4% in the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock valued at $569,844,000 after purchasing an additional 152,774 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Principal Financial Group by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock valued at $306,393,000 after buying an additional 39,854 shares during the period. Bank of New York Mellon Corp lifted its position in Principal Financial Group by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock worth $149,301,000 after acquiring an additional 53,516 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Principal Financial Group by 6.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,694 shares of the company’s stock worth $59,786,000 after acquiring an additional 43,190 shares during the period. Finally, Rhumbline Advisers grew its position in Principal Financial Group by 0.5% in the second quarter. Rhumbline Advisers now owns 478,129 shares of the company’s stock valued at $37,509,000 after acquiring an additional 2,487 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

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

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

Analyst Upgrades and Downgrades

PFG has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $88.00 to $96.00 in a research report on Tuesday, July 2nd. 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 report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Finally, Morgan Stanley lowered their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and a consensus target price of $85.42.

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.