Wells Fargo & Company Has Lowered Expectations for Principal Financial Group (NASDAQ:PFG) Stock Price

Principal Financial Group (NASDAQ:PFG) had its price target cut by stock analysts at Wells Fargo & Company from $91.00 to $87.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 5.23% from the stock’s previous close.

Several other research firms have also recently issued reports on PFG. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $103.00 target price on shares of Principal Financial Group in a research note on Monday, January 5th. UBS Group boosted their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday. Bank of America boosted their target price on shares of Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Morgan Stanley raised their target price on Principal Financial Group from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Barclays dropped their target price on Principal Financial Group from $85.00 to $84.00 and set an “underweight” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.89.

Principal Financial Group Stock Down 0.6%

Principal Financial Group stock opened at $91.80 on Friday. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. Principal Financial Group has a 52 week low of $69.80 and a 52 week high of $97.88. The business’s 50-day moving average price is $91.42 and its 200 day moving average price is $87.84. 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 (NASDAQ:PFG) last posted its earnings results on Wednesday, February 18th. The company reported $2.20 EPS for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.The firm 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 7,340 shares of Principal Financial Group stock in a transaction on Friday, January 30th. The shares were sold at an average price of $95.00, for a total transaction of $697,300.00. Following the sale, the chief executive officer owned 136,828 shares of the company’s stock, valued at $12,998,660. The trade was a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 24,665 shares of company stock worth $2,324,710. Insiders own 1.08% of the company’s stock.

Institutional Trading of Principal Financial Group

A number of hedge funds have recently bought and sold shares of PFG. DV Equities LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Principal Financial Group in the 4th quarter valued at about $26,000. Hilton Head Capital Partners LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $26,000. Capital A Wealth Management LLC raised its holdings in Principal Financial Group by 5,533.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after acquiring an additional 332 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its holdings in 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 during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

About Principal Financial Group

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.