Busey Bank Invests $226,000 in Principal Financial Group, Inc. (NYSE:PFG)

Busey Bank acquired a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,919 shares of the company’s stock, valued at approximately $226,000.

A number of other large investors have also added to or reduced their stakes in the stock. KBC Group NV raised its holdings in Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after buying an additional 232,915 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Principal Financial Group by 85.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after acquiring an additional 215,045 shares in the last quarter. Bank of Montreal Can raised its holdings in Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after acquiring an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC lifted its position in Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after purchasing an additional 130,225 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $83.51 on Friday. The stock has a market cap of $19.10 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.82 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 stock’s fifty day moving average is $80.75 and its 200 day moving average is $82.26. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97.

Analysts Set New Price Targets

PFG has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Bank of America lowered their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Barclays lifted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $84.92.

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.