Park Edge Advisors LLC Cuts Position in Principal Financial Group, Inc. (NYSE:PFG)

Park Edge Advisors LLC trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,236 shares of the company’s stock after selling 655 shares during the period. Park Edge Advisors LLC’s holdings in Principal Financial Group were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in shares of Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock valued at $404,000 after purchasing an additional 132 shares during the last quarter. Prime Capital Investment Advisors LLC grew its position in Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after buying an additional 142 shares during the period. Empirical Finance LLC increased its holdings in Principal Financial Group by 1.8% during the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after buying an additional 142 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Principal Financial Group by 18.2% during the second quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock worth $76,000 after buying an additional 143 shares during the last quarter. Finally, Palisade Asset Management LLC raised its position in Principal Financial Group by 2.1% in the third quarter. Palisade Asset Management LLC now owns 6,946 shares of the company’s stock worth $597,000 after acquiring an additional 146 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company reduced their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets assumed coverage on Principal Financial Group in a research report on Thursday. They set a “market perform” rating and a $93.00 price target on the stock. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Bank of America lowered their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.92.

Principal Financial Group Price Performance

PFG stock opened at $81.83 on Friday. The firm has a 50 day moving average of $80.86 and a 200-day moving average of $82.27. The firm has a market capitalization of $18.72 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the business earned $1.72 earnings per share. As a group, sell-side analysts predict that Principal Financial Group, Inc. will post 7.01 earnings per share for the current fiscal year.

About Principal Financial Group

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.