Richardson Financial Services Inc. Sells 310 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Richardson Financial Services Inc. reduced its position in Principal Financial Group, Inc. (NYSE:PFG) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,120 shares of the company’s stock after selling 310 shares during the quarter. Richardson Financial Services Inc.’s holdings in Principal Financial Group were worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $82.45 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of -91.61, a PEG ratio of 0.82 and a beta of 1.22. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The firm’s 50-day moving average is $80.66 and its 200 day moving average is $82.22.

Analyst Ratings Changes

Several research firms have recently issued reports on PFG. Barclays lifted 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 report on Friday, October 25th. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a research note on Wednesday, December 18th. Finally, Bank of America lowered their target price 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. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $84.92.

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.