Principal Financial Group (NYSE:PFG) Price Target Increased to $90.00 by Analysts at Piper Sandler

Principal Financial Group (NYSE:PFG) had its target price hoisted by equities researchers at Piper Sandler from $85.00 to $90.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 5.71% from the company’s previous close.

A number of other brokerages also recently weighed in on PFG. Barclays started coverage on Principal Financial Group in a report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Jefferies Financial Group increased their price objective on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Morgan Stanley dropped their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Wells Fargo & Company reduced their price target on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $85.50.

Principal Financial Group Stock Down 0.9 %

Shares of Principal Financial Group stock opened at $85.14 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 12-month low of $66.21 and a 12-month high of $88.26. The firm has a market capitalization of $19.96 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. The stock’s fifty day moving average is $80.20 and its 200-day moving average is $81.24.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. Equities analysts anticipate that Principal Financial Group will post 7.31 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in shares of Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after purchasing an additional 135 shares during the period. Ballentine Partners LLC increased its holdings in Principal Financial Group by 5.0% in the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after buying an additional 138 shares during the period. Graypoint LLC raised its stake in shares of Principal Financial Group by 5.6% in the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after buying an additional 140 shares in the last quarter. City State Bank lifted its holdings in shares of Principal Financial Group by 1.7% during the 1st quarter. City State Bank now owns 8,216 shares of the company’s stock worth $709,000 after acquiring an additional 141 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Principal Financial Group by 18.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock worth $76,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

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.