18,628 Shares in Principal Financial Group, Inc. (NYSE:PFG) Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd acquired a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,628 shares of the company's stock, valued at approximately $1,435,000.

A number of other large investors have also made changes to their positions in PFG. Harbor Capital Advisors Inc. boosted its holdings in Principal Financial Group by 2.6% during the fourth 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 in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Principal Financial Group by 2.3% in the 3rd 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 in the last quarter. Empirical Finance LLC grew its position in Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company's stock valued at $676,000 after acquiring an additional 142 shares during the period. Palisade Asset Management LLC raised its stake in Principal Financial Group by 2.1% during 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 in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Principal Financial Group by 2.5% during the third quarter. First Trust Direct Indexing L.P. now owns 6,479 shares of the company's stock valued at $557,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PFG. Wells Fargo & Company decreased their price objective on shares of Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. Bank of America dropped their price target on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Piper Sandler raised Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price objective on the stock in a research note on Wednesday, December 18th. Morgan Stanley restated an "underweight" rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $84.92.

Principal Financial Group Trading Down 0.7 %

PFG traded down $0.57 during midday trading on Thursday, reaching $80.00. 2,402,252 shares of the company were exchanged, compared to its average volume of 1,370,790. The stock has a market capitalization of $18.30 billion, a P/E ratio of -88.89, a PEG ratio of 0.81 and a beta of 1.22. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The stock's 50-day simple moving average is $80.28 and its 200 day simple moving average is $82.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

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.