KBC Group NV Buys 232,915 Shares of Principal Financial Group, Inc. (NYSE:PFG)

KBC Group NV lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 398.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,379 shares of the company's stock after buying an additional 232,915 shares during the period. KBC Group NV owned about 0.13% of Principal Financial Group worth $22,555,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Principal Financial Group by 19.1% in the 4th quarter. Blue Trust Inc. now owns 3,272 shares of the company's stock worth $281,000 after acquiring an additional 524 shares during the last quarter. Legacy Financial Group LLC purchased a new position in Principal Financial Group in the 4th quarter worth $771,000. Fifth Third Bancorp lifted its stake in Principal Financial Group by 2.5% in the fourth quarter. Fifth Third Bancorp now owns 9,475 shares of the company's stock worth $733,000 after purchasing an additional 228 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Principal Financial Group by 10.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,281 shares of the company's stock valued at $254,000 after buying an additional 301 shares during the period. Finally, Sound Income Strategies LLC grew its stake in shares of Principal Financial Group by 8.8% during the fourth quarter. Sound Income Strategies LLC now owns 228,677 shares of the company's stock valued at $17,702,000 after buying an additional 18,538 shares during the last quarter. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Down 1.3 %

Shares of PFG stock traded down $1.06 during midday trading on Friday, reaching $82.45. 4,816,252 shares of the stock were exchanged, compared to its average volume of 1,033,796. Principal Financial Group, Inc. has a 1 year low of $72.21 and a 1 year high of $91.97. The firm has a market cap of $18.86 billion, a PE ratio of -91.61, a price-to-earnings-growth ratio of 0.82 and a beta of 1.22. The company's 50 day moving average is $80.66 and its two-hundred day moving average is $82.25. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Bank of America dropped their price objective on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research note on Thursday, October 10th. Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Piper Sandler upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price target for the company in a report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Four equities 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.com, the company presently has an average rating of "Hold" and a consensus price target of $84.92.

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.