Forsta AP Fonden Sells 3,500 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Forsta AP Fonden lessened its position in Principal Financial Group, Inc. (NYSE:PFG) by 5.5% during the 4th quarter, Holdings Channel reports. The firm owned 59,700 shares of the company’s stock after selling 3,500 shares during the quarter. Forsta AP Fonden’s holdings in Principal Financial Group were worth $4,621,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC lifted its position in Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after buying an additional 533 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares in the last quarter. Legacy Financial Group LLC bought a new position in Principal Financial Group in the 4th quarter valued at $771,000. Empowered Funds LLC increased its stake in shares of Principal Financial Group by 358.7% in the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after buying an additional 12,768 shares during the period. Finally, Weiss Asset Management LP acquired a new position in shares of Principal Financial Group during the third quarter valued at $1,475,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

Shares of PFG opened at $82.45 on Friday. The company has a 50 day moving average of $80.73 and a 200-day moving average of $82.27. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $18.86 billion, a P/E ratio of -91.61, a P/E/G ratio of 0.82 and a beta of 1.22. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97.

Analyst Ratings Changes

Several brokerages have weighed in on PFG. Wells Fargo & Company dropped 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 began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. Keefe, Bruyette & Woods reduced their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.92.

Principal Financial Group Profile

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.