Mediolanum International Funds Ltd Raises Holdings in Principal Financial Group, Inc. $PFG

Mediolanum International Funds Ltd lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 41.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 127,368 shares of the company’s stock after purchasing an additional 37,357 shares during the quarter. Mediolanum International Funds Ltd owned about 0.06% of Principal Financial Group worth $10,504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Traub Capital Management LLC acquired a new position in shares of Principal Financial Group during the 2nd quarter worth $26,000. Capital A Wealth Management LLC boosted its stake in Principal Financial Group by 5,533.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock worth $27,000 after buying an additional 332 shares during the last quarter. Curio Wealth LLC increased its position in Principal Financial Group by 37,800.0% during the second quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after purchasing an additional 378 shares during the last quarter. Private Wealth Asset Management LLC boosted its holdings in Principal Financial Group by 163.4% in the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock valued at $32,000 after acquiring an additional 250 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at about $46,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the completion of the sale, the executive vice president owned 81,421 shares of the company’s stock, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Deanna D. Strable-Soethout sold 9,300 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 144,168 shares in the company, valued at approximately $13,713,260.16. The trade was a 6.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 19,512 shares of company stock valued at $1,815,630. 1.08% of the stock is owned by corporate insiders.

Principal Financial Group Price Performance

NYSE PFG opened at $94.72 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market capitalization of $21.10 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. The company has a 50 day simple moving average of $89.25 and a 200-day simple moving average of $83.72. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $95.40.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PFG shares. Wells Fargo & Company raised their price objective on Principal Financial Group from $74.00 to $85.00 and gave the company an “underweight” rating in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Piper Sandler lifted their price target on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Morgan Stanley set a $93.00 target price on shares of Principal Financial Group in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $103.00 price objective on shares of Principal Financial Group in a report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Principal Financial Group presently has an average rating of “Reduce” and a consensus price target of $92.88.

Principal Financial Group Profile

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.