Avantax Planning Partners Inc. Has $2.68 Million Stock Position in Principal Financial Group, Inc. (NASDAQ:PFG)

Avantax Planning Partners Inc. lessened its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,554 shares of the company’s stock after selling 766 shares during the period. Avantax Planning Partners Inc.’s holdings in Principal Financial Group were worth $2,683,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Riverview Trust Co bought a new position in Principal Financial Group during the first quarter worth $29,000. MCF Advisors LLC bought a new position in Principal Financial Group during the first quarter worth $32,000. Allegheny Financial Group LTD bought a new position in Principal Financial Group during the fourth quarter worth $33,000. Mystic Asset Management Inc. bought a new position in Principal Financial Group during the fourth quarter worth $35,000. Finally, Clearview Wealth Advisors LLC bought a new position in Principal Financial Group during the fourth quarter worth $37,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Principal Financial Group Trading Up 0.4 %

Shares of NASDAQ:PFG traded up $0.24 on Friday, hitting $68.22. The company had a trading volume of 793,645 shares, compared to its average volume of 1,261,143. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $66.69 and its two-hundred day simple moving average is $69.96. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 2.42 and a beta of 1.36. Principal Financial Group, Inc. has a 1 year low of $60.97 and a 1 year high of $80.36.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PFG shares. JPMorgan Chase & Co. decreased their price target on shares of Principal Financial Group from $72.00 to $69.00 in a research note on Monday, July 11th. Piper Sandler decreased their price target on shares of Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, July 8th. Barclays decreased their target price on shares of Principal Financial Group from $85.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. Citigroup assumed coverage on shares of Principal Financial Group in a report on Monday, May 23rd. They set a “sell” rating and a $63.00 price target on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Principal Financial Group from $79.00 to $70.00 in a research note on Monday, July 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average target price of $69.40.

Insider Buying and Selling

In related news, EVP Wee Yee Cheong sold 10,000 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the transaction, the executive vice president now directly owns 37,093 shares in the company, valued at approximately $2,633,603. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.17% of the stock is owned by company insiders.

Principal Financial Group Profile

(Get Rating)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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