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

AlphaQuest LLC decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 53.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,728 shares of the company’s stock after selling 11,384 shares during the quarter. AlphaQuest LLC’s holdings in Principal Financial Group were worth $807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System boosted its position in shares of Principal Financial Group by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 66,337 shares of the company’s stock valued at $5,500,000 after acquiring an additional 631 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Principal Financial Group in the 3rd quarter valued at about $278,000. AE Wealth Management LLC grew its stake in shares of Principal Financial Group by 8.8% in the 3rd quarter. AE Wealth Management LLC now owns 170,695 shares of the company’s stock valued at $14,152,000 after buying an additional 13,795 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $924,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Principal Financial Group by 3.5% during the 3rd quarter. New York State Common Retirement Fund now owns 130,685 shares of the company’s stock worth $10,835,000 after buying an additional 4,400 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PFG. UBS Group upped their price objective on Principal Financial Group from $88.00 to $92.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Barclays reaffirmed an “underweight” rating and issued a $85.00 price target on shares of Principal Financial Group in a research note on Thursday, January 8th. Evercore ISI boosted their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods upped their target price on shares of 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. Finally, Wells Fargo & Company increased their target price on shares of Principal Financial Group from $74.00 to $85.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $92.88.

Principal Financial Group Trading Up 1.4%

Shares of PFG stock opened at $96.00 on Tuesday. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $96.38. The company has a 50 day moving average price of $89.48 and a 200 day moving average price of $83.82. The stock has a market capitalization of $21.39 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

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 that occurred on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the transaction, the executive vice president owned 81,421 shares in the company, valued at $6,924,041.84. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the sale, the chief executive officer directly owned 144,168 shares in the company, valued at approximately $13,713,260.16. This represents a 6.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,852 shares of company stock valued at $2,512,930 over the last three months. 1.08% of the stock is currently owned by insiders.

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.