UBS Group Increases Principal Financial Group (NASDAQ:PFG) Price Target to $94.00

Principal Financial Group (NASDAQ:PFG) had its target price raised by investment analysts at UBS Group from $92.00 to $94.00 in a research report issued on Thursday, MarketBeat reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 2.40% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $92.00 target price on shares of Principal Financial Group in a research report on Thursday, March 26th. Wells Fargo & Company upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $85.00 to $91.00 in a research report on Wednesday, February 25th. Barclays cut their target price on shares of Principal Financial Group from $85.00 to $84.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Piper Sandler lifted their target price on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and an average target price of $93.89.

Principal Financial Group Trading Down 0.6%

PFG opened at $91.80 on Thursday. The company’s 50 day moving average is $91.42 and its 200-day moving average is $87.80. Principal Financial Group has a 1-year low of $69.80 and a 1-year high of $97.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market cap of $19.89 billion, a P/E ratio of 17.42, a PEG ratio of 0.85 and a beta of 0.87.

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

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the transaction, the chief executive officer owned 144,168 shares in the company, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 24,665 shares of company stock worth $2,324,710. 1.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PFG. DV Equities LLC bought a new position in Principal Financial Group during the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Principal Financial Group during the 4th quarter worth approximately $26,000. Hilton Head Capital Partners LLC bought a new position in Principal Financial Group during the 4th quarter worth approximately $26,000. Capital A Wealth Management LLC raised its holdings in Principal Financial Group by 5,533.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock worth $27,000 after purchasing an additional 332 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of Principal Financial Group by 343.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after acquiring an additional 268 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.