Capital Management Corp VA Grows Stake in Principal Financial Group, Inc. $PFG

Capital Management Corp VA increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 19.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,736 shares of the company’s stock after acquiring an additional 27,857 shares during the period. Principal Financial Group comprises about 2.3% of Capital Management Corp VA’s investment portfolio, making the stock its 19th biggest holding. Capital Management Corp VA owned 0.08% of Principal Financial Group worth $14,322,000 at the end of the most recent reporting period.

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

Principal Financial Group Stock Down 0.0%

Shares of PFG stock opened at $94.72 on Friday. 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 one year low of $68.39 and a one year high of $95.40. The company’s fifty day moving average price is $89.25 and its 200-day moving average price is $83.69. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.76 and a beta of 0.89.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Evercore ISI upped their target price 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 boosted their price objective 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. Barclays restated an “underweight” rating and issued a $85.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $103.00 target price on shares of Principal Financial Group in a research report on Monday, January 5th. Finally, Piper Sandler boosted their price target on Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $92.88.

Insider Activity at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares of the company’s stock, valued at approximately $13,713,260.16. The trade was a 6.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wee Yee Cheong sold 1,887 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was 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 of the company’s stock, valued at $6,924,041.84. The trade was a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,512 shares of company stock worth $1,815,630 in the last three months. 1.08% of the stock is owned by corporate 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.