Principal Financial Group (NASDAQ:PFG) Given New $106.00 Price Target at JPMorgan Chase & Co.

Principal Financial Group (NASDAQ:PFG) had its price objective raised by JPMorgan Chase & Co. from $101.00 to $106.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently commented on PFG. Jefferies Financial Group lifted their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Bank of America restated an “underperform” rating and issued a $95.00 price objective (down from $98.00) on shares of Principal Financial Group in a research note on Wednesday, June 24th. Atlantic Securities set a $94.00 price objective on Principal Financial Group in a research report on Wednesday, July 15th. Evercore set a $108.00 target price on Principal Financial Group in a research note on Monday, April 27th. Finally, Wells Fargo & Company boosted their target price on Principal Financial Group from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.08.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $109.57 on Tuesday. The company has a fifty day moving average price of $107.67 and a two-hundred day moving average price of $98.03. Principal Financial Group has a one year low of $75.00 and a one year high of $114.90. The stock has a market cap of $23.67 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period in the previous year, the business earned $1.81 EPS. As a group, equities analysts predict that Principal Financial Group will post 9.4 EPS for the current year.

Insider Activity

In other news, insider Wee Yee Cheong sold 9,183 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the completion of the sale, the insider owned 77,188 shares in the company, valued at $7,816,056.88. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the transaction, the general counsel directly owned 21,906 shares in the company, valued at $2,208,781.98. The trade was a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,317 shares of company stock worth $2,884,902. Insiders own 1.13% of the company’s stock.

Institutional Trading of Principal Financial Group

Several hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC bought a new position in Principal Financial Group during the 4th quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Principal Financial Group in the fourth quarter valued at about $26,000. Hilton Head Capital Partners LLC acquired a new position in shares of Principal Financial Group in the fourth quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Principal Financial Group in the first quarter valued at about $27,000. Finally, MBM Wealth Consultants LLC bought a new position in Principal Financial Group during the first quarter worth about $28,000. 75.08% of the stock is owned by institutional investors and hedge funds.

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.