Empirical Financial Services LLC d.b.a. Empirical Wealth Management Lowers Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,051 shares of the company’s stock after selling 550 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Principal Financial Group were worth $468,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

PFG has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their target price 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. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Barclays raised their price objective 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. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.92.

Principal Financial Group Stock Up 0.6 %

PFG opened at $83.38 on Thursday. The stock has a market cap of $19.07 billion, a price-to-earnings ratio of -92.64, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The firm’s fifty day moving average is $80.77 and its 200 day moving average is $82.26. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97.

Principal Financial Group Company 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.