BerganKDV Wealth Management LLC Acquires 4,596 Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

BerganKDV Wealth Management LLC increased its holdings in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 8.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,399 shares of the company’s stock after purchasing an additional 4,596 shares during the period. BerganKDV Wealth Management LLC’s holdings in Principal Financial Group were worth $4,140,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PFG. Riverview Trust Co acquired a new position in shares of Principal Financial Group during the first quarter valued at about $29,000. MCF Advisors LLC acquired a new position in shares of Principal Financial Group during the first quarter valued at about $32,000. Allegheny Financial Group LTD acquired a new position in shares of Principal Financial Group during the fourth quarter valued at about $33,000. Mystic Asset Management Inc. acquired a new position in shares of Principal Financial Group during the fourth quarter valued at about $35,000. Finally, Clearview Wealth Advisors LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at about $37,000. 77.69% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

NASDAQ PFG traded up $0.24 during trading on Friday, reaching $68.22. The company’s stock had a trading volume of 793,645 shares, compared to its average volume of 1,261,143. The firm has a 50 day moving average price of $66.69 and a 200 day moving average price of $69.96. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 2.42 and a beta of 1.36. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $60.97 and a 12 month high of $80.36.

Insider Buying and Selling

In other Principal Financial Group news, EVP Wee Yee Cheong sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the transaction, the executive vice president now directly owns 37,093 shares in the company, valued at approximately $2,633,603. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PFG. Citigroup began coverage on shares of Principal Financial Group in a research report on Monday, May 23rd. They issued a “sell” rating and a $63.00 price target for the company. Piper Sandler dropped their price objective on shares of Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Evercore ISI dropped their price objective on shares of Principal Financial Group from $78.00 to $72.00 and set an “in-line” rating for the company in a report on Wednesday, July 6th. JPMorgan Chase & Co. dropped their price objective on shares of Principal Financial Group from $72.00 to $69.00 in a report on Monday, July 11th. Finally, Barclays dropped their price objective on shares of Principal Financial Group from $85.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.40.

Principal Financial Group Profile

(Get Rating)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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