Principal Financial Group, Inc. $PFG Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 53.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,728 shares of the company’s stock after selling 11,384 shares during the period. AlphaQuest LLC’s holdings in Principal Financial Group were worth $807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Principal Financial Group during the second quarter worth $227,098,000. Bank of America Corp DE boosted its stake in shares of Principal Financial Group by 9.6% during the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock worth $982,617,000 after acquiring an additional 1,083,991 shares in the last quarter. Amundi boosted its stake in shares of Principal Financial Group by 57.6% during the 2nd quarter. Amundi now owns 1,791,246 shares of the company’s stock worth $144,213,000 after acquiring an additional 654,408 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Principal Financial Group by 1,048.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 697,735 shares of the company’s stock valued at $57,849,000 after acquiring an additional 637,001 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in shares of Principal Financial Group by 111.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 901,652 shares of the company’s stock valued at $71,618,000 after purchasing an additional 475,269 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFG. Morgan Stanley set a $93.00 price target on Principal Financial Group in a research report on Monday, December 15th. Evercore ISI upped their target price on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $74.00 to $85.00 and gave the company an “underweight” rating in a research note on Tuesday, January 13th. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $92.88.

Insider Buying and Selling at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $95.00, for a total transaction of $697,300.00. Following the completion of the sale, the chief executive officer owned 136,828 shares of the company’s stock, valued at $12,998,660. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wee Yee Cheong sold 1,887 shares of the stock in a transaction dated Wednesday, November 12th. The shares were 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 $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 26,852 shares of company stock worth $2,512,930. 1.08% of the stock is currently owned by corporate insiders.

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $96.00 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $96.38. The firm has a market capitalization of $21.39 billion, a PE ratio of 14.37, a P/E/G ratio of 0.76 and a beta of 0.89. The business’s 50 day moving average price is $89.48 and its 200-day moving average price is $83.82.

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.