Bank of America Lowers Principal Financial Group (NASDAQ:PFG) Price Target to $92.00

Principal Financial Group (NASDAQ:PFG) had its price target lowered by analysts at Bank of America from $96.00 to $92.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential downside of 2.83% from the stock’s current price.

PFG has been the subject of a number of other reports. Weiss Ratings raised shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $103.00 price target on shares of Principal Financial Group in a research note on Monday, January 5th. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. UBS Group upped their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Barclays reduced their price target on shares of Principal Financial Group from $85.00 to $84.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.44.

Principal Financial Group Trading Up 0.6%

Principal Financial Group stock opened at $94.68 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $91.31 and a two-hundred day moving average price of $88.09. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 0.87 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.

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

Insider Activity at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the sale, the chief executive officer directly owned 136,828 shares in the company, valued at $12,998,660. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 24,665 shares of company stock valued at $2,324,710. 1.08% of the stock is owned by insiders.

Institutional Trading of Principal Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aptus Capital Advisors LLC raised its holdings in shares of Principal Financial Group by 3.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock worth $286,000 after purchasing an additional 118 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Principal Financial Group by 7.6% during the fourth quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock valued at $149,000 after acquiring an additional 119 shares during the period. Fifth Third Bancorp raised its holdings in shares of Principal Financial Group by 1.4% during the fourth quarter. Fifth Third Bancorp now owns 9,130 shares of the company’s stock valued at $805,000 after acquiring an additional 127 shares during the period. Mutual Advisors LLC raised its holdings in shares of Principal Financial Group by 4.6% during the fourth quarter. Mutual Advisors LLC now owns 2,908 shares of the company’s stock valued at $257,000 after acquiring an additional 129 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Principal Financial Group by 22.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 713 shares of the company’s stock valued at $59,000 after acquiring an additional 130 shares during the period. 75.08% of the stock is currently owned by institutional investors.

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.