Barclays Has Lowered Expectations for Principal Financial Group (NASDAQ:PFG) Stock Price

Principal Financial Group (NASDAQ:PFG) had its price target lowered by research analysts at Barclays from $85.00 to $84.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential downside of 9.01% from the stock’s current price.

A number of other research analysts also recently commented on PFG. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th. Piper Sandler increased their price target on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Bank of America increased their price target on shares of Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $103.00 price target on shares of Principal Financial Group in a report on Monday, January 5th. Finally, UBS Group increased their price target on shares of Principal Financial Group from $88.00 to $92.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.33.

Principal Financial Group Trading Down 2.0%

Shares of Principal Financial Group stock opened at $92.32 on Wednesday. The firm has a market cap of $20.00 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.87 and a beta of 0.87. The business has a 50-day moving average price of $91.48 and a 200-day moving average price of $87.74. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group has a twelve month low of $69.80 and a twelve month high of $97.88.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 earnings per share for the quarter. The firm had revenue of $4.58 billion during the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the sale, the chief executive officer owned 136,828 shares of the company’s stock, valued at $12,998,660. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 24,665 shares of company stock valued at $2,324,710 over the last ninety days. 1.08% of the stock is owned by company insiders.

Institutional Trading of Principal Financial Group

Institutional investors have recently added to or reduced their stakes in the company. Capital Management Corp VA lifted its stake in Principal Financial Group by 19.2% in the third quarter. Capital Management Corp VA now owns 172,736 shares of the company’s stock worth $14,322,000 after purchasing an additional 27,857 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Principal Financial Group by 160.3% during the third quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock valued at $3,978,000 after acquiring an additional 30,118 shares in the last quarter. Mediolanum International Funds Ltd raised its stake in shares of Principal Financial Group by 41.5% during the third quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock valued at $10,504,000 after acquiring an additional 37,357 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Principal Financial Group during the third quarter valued at approximately $18,526,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Principal Financial Group by 1,048.8% during the third quarter. Assenagon Asset Management S.A. now owns 697,735 shares of the company’s stock valued at $57,849,000 after acquiring an additional 637,001 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.