Centennial Wealth Advisory LLC Increases Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Centennial Wealth Advisory LLC increased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,931 shares of the company’s stock after acquiring an additional 490 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Principal Financial Group were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Principal Financial Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after acquiring an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock worth $120,577,000 after acquiring an additional 18,801 shares during the period. Barclays PLC lifted its stake in Principal Financial Group by 12.3% in the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after acquiring an additional 88,179 shares during the period. AustralianSuper Pty Ltd lifted its stake in Principal Financial Group by 27.2% in the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock worth $46,404,000 after acquiring an additional 115,569 shares during the period. Finally, Bank of Montreal Can lifted its stake in Principal Financial Group by 41.0% in the third 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 period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

PFG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped 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 price objective on 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. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised 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, Piper Sandler raised 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. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $84.92.

Principal Financial Group Price Performance

NYSE PFG opened at $80.57 on Thursday. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The stock has a 50-day moving average of $80.42 and a 200 day moving average of $82.12. The company has a market capitalization of $18.43 billion, a price-to-earnings ratio of -89.52, a PEG ratio of 0.81 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.

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.