Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 73.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,979 shares of the company's stock after selling 47,116 shares during the quarter. Pacer Advisors Inc.'s holdings in Principal Financial Group were worth $1,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFG. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the third quarter valued at approximately $33,000. Truvestments Capital LLC purchased a new position in Principal Financial Group during the 3rd quarter valued at $43,000. Prospera Private Wealth LLC purchased a new position in Principal Financial Group during the 3rd quarter valued at $45,000. Sugarloaf Wealth Management LLC grew its position in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after acquiring an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Principal Financial Group in the third quarter worth $50,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PFG shares. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Wells Fargo & Company dropped their target price 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 decreased their price target on shares of 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. BMO Capital Markets initiated coverage on 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. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $84.92.

Principal Financial Group Stock Down 0.7 %

Shares of NYSE:PFG traded down $0.57 during trading on Thursday, reaching $80.00. The stock had a trading volume of 2,402,252 shares, compared to its average volume of 1,370,790. The firm's 50-day simple moving average is $80.28 and its 200 day simple moving average is $82.11. 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, Inc. has a one year low of $72.21 and a one year high of $91.97. The company 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.

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.