Principal Financial Group (NYSE:PFG) Reaches New 12-Month High – Still a Buy?

Principal Financial Group, Inc. (NYSE:PFG)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $96.38 and last traded at $96.00, with a volume of 1330154 shares. The stock had previously closed at $94.72.

Analyst Ratings Changes

Several research firms have weighed in on PFG. Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Barclays reaffirmed an “underweight” rating and set a $85.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 8th. Wells Fargo & Company lifted their target price on Principal Financial Group from $74.00 to $85.00 and gave the stock an “underweight” rating in a report on Tuesday, January 13th. Evercore ISI increased their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Finally, Morgan Stanley set a $93.00 price target on Principal Financial Group in a research report on Monday, December 15th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Reduce” and a consensus price target of $92.88.

Principal Financial Group Trading Up 1.2%

The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 0.76 and a beta of 0.89. The business has a 50-day simple moving average of $89.93 and a two-hundred day simple moving average of $84.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Insider Buying and Selling at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the sale, the chief executive officer directly owned 136,828 shares in the company, valued at approximately $12,998,660. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Wee Yee Cheong sold 1,887 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the transaction, the executive vice president directly owned 81,421 shares in the company, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,852 shares of company stock worth $2,512,930 over the last ninety days. Insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Traub Capital Management LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Principal Financial Group in the 4th quarter valued at about $26,000. Capital A Wealth Management LLC lifted its position in Principal Financial Group by 5,533.3% during the second quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock worth $27,000 after acquiring an additional 332 shares during the last quarter. Curio Wealth LLC grew its position in shares of Principal Financial Group by 37,800.0% in the second quarter. Curio Wealth LLC now owns 379 shares of the company’s stock valued at $30,000 after purchasing an additional 378 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its position in shares of Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after purchasing an additional 268 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.