Goelzer Investment Management Inc. Lowers Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Goelzer Investment Management Inc. lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 2.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,946 shares of the company’s stock after selling 2,719 shares during the period. Goelzer Investment Management Inc. owned 0.05% of Principal Financial Group worth $9,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its holdings in Principal Financial Group by 10.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,281 shares of the company’s stock worth $254,000 after acquiring an additional 301 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Principal Financial Group by 8.8% in the 4th quarter. Sound Income Strategies LLC now owns 228,677 shares of the company’s stock worth $17,702,000 after purchasing an additional 18,538 shares during the last quarter. GoalVest Advisory LLC boosted its stake in Principal Financial Group by 1.4% in the 4th quarter. GoalVest Advisory LLC now owns 18,278 shares of the company’s stock worth $1,415,000 after purchasing an additional 254 shares in the last quarter. City Holding Co. grew its position in Principal Financial Group by 28.2% during the 4th quarter. City Holding Co. now owns 908 shares of the company’s stock valued at $70,000 after purchasing an additional 200 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Principal Financial Group by 9.2% during the 4th quarter. HB Wealth Management LLC now owns 4,180 shares of the company’s stock valued at $324,000 after purchasing an additional 353 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $81.83 on Friday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. 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 50 day moving average of $80.96 and a 200 day moving average of $82.24.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the firm earned $1.72 EPS. On average, research analysts anticipate that Principal Financial Group, Inc. will post 7.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PFG. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday. They set a “market perform” rating and a $93.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group presently has an average 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.