KBC Group NV Boosts Stake in Principal Financial Group, Inc. (NYSE:PFG)

KBC Group NV raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 398.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 291,379 shares of the company’s stock after acquiring an additional 232,915 shares during the period. KBC Group NV’s holdings in Principal Financial Group were worth $22,555,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the third quarter worth approximately $33,000. Truvestments Capital LLC purchased a new position in Principal Financial Group in the 3rd quarter worth approximately $43,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at $45,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Principal Financial Group during the 3rd quarter worth $50,000. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods decreased their price target on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, Barclays upped their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Four investment 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 stock has a consensus rating of “Hold” and an average price target of $84.92.

Principal Financial Group Price Performance

PFG stock opened at $82.89 on Wednesday. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of -92.10, a PEG ratio of 0.80 and a beta of 1.22. The firm’s 50-day moving average price is $80.79 and its two-hundred day moving average price is $82.27. 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 12-month low of $72.21 and a 12-month high of $91.97.

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.