Lecap Asset Management Ltd. Acquires 12,933 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Lecap Asset Management Ltd. lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 135.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,469 shares of the company’s stock after buying an additional 12,933 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Principal Financial Group were worth $1,739,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PFG. Metis Global Partners LLC increased its stake in shares of Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after purchasing an additional 533 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Principal Financial Group by 66.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares during the last quarter. Legacy Financial Group LLC bought a new position in Principal Financial Group during the 4th quarter valued at approximately $771,000. Empowered Funds LLC raised its stake in Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after buying an additional 12,768 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in Principal Financial Group in the third quarter worth $1,475,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $80.00 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.81 and a beta of 1.22. The firm has a 50 day moving average of $80.28 and a 200 day moving average of $82.11.

Analyst Ratings Changes

PFG has been the subject of several analyst reports. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Bank of America reduced their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. 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 report on Friday, October 25th. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.92.

Principal Financial Group 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.