Principal Financial Group (NYSE:PFG) PT Raised to $78.00

Principal Financial Group (NYSE:PFG) had its price objective boosted by stock analysts at Jefferies Financial Group from $74.00 to $78.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential downside of 0.57% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Piper Sandler raised their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley lifted their price objective on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI lifted their target price on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company decreased their price target on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus target price of $81.50.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $78.45 on Friday. The company has a market capitalization of $18.39 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.85 and a beta of 1.23. The business’s 50 day moving average is $80.93 and its two-hundred day moving average is $80.56. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group has a 12-month low of $66.21 and a 12-month high of $86.79.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter last year, the business earned $1.48 EPS. Analysts expect that Principal Financial Group will post 7.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mariner LLC boosted its stake in shares of Principal Financial Group by 4.9% during the 3rd quarter. Mariner LLC now owns 24,898 shares of the company’s stock worth $1,794,000 after acquiring an additional 1,156 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Principal Financial Group by 17.1% during the third quarter. Federated Hermes Inc. now owns 20,456 shares of the company’s stock worth $1,474,000 after acquiring an additional 2,986 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Principal Financial Group by 2.9% during the third quarter. Natixis Advisors L.P. now owns 67,917 shares of the company’s stock worth $4,895,000 after acquiring an additional 1,887 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Principal Financial Group by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 109,266 shares of the company’s stock worth $7,875,000 after purchasing an additional 390 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Principal Financial Group by 329.6% in the third quarter. Tower Research Capital LLC TRC now owns 10,986 shares of the company’s stock worth $792,000 after purchasing an additional 8,429 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.