Principal Financial Group (NYSE:PFG) PT Raised to $90.00

Principal Financial Group (NYSE:PFG) had its price target boosted by equities research analysts at Piper Sandler from $85.00 to $90.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 5.71% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Bank of America boosted their price objective on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Wells Fargo & Company dropped their target price on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Citigroup raised their price target on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods dropped their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.50.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $85.14 on Wednesday. The firm has a market capitalization of $19.96 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.90 and a beta of 1.19. The stock has a fifty day moving average price of $80.20 and a two-hundred day moving average price of $81.24. Principal Financial Group has a 52-week low of $66.21 and a 52-week high of $88.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same quarter last year, the business earned $1.53 EPS. As a group, analysts anticipate that Principal Financial Group will post 7.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Principal Financial Group

A number of large investors have recently bought and sold shares of PFG. NEOS Investment Management LLC bought a new stake in shares of Principal Financial Group in the fourth quarter worth $245,000. Rafferty Asset Management LLC boosted its stake in shares of Principal Financial Group by 4.2% during the 4th quarter. Rafferty Asset Management LLC now owns 77,746 shares of the company’s stock worth $6,116,000 after buying an additional 3,125 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $246,000. Goldman Sachs Group Inc. increased its position in shares of Principal Financial Group by 10.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,157,712 shares of the company’s stock valued at $169,747,000 after acquiring an additional 200,056 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in Principal Financial Group during the fourth quarter worth about $217,000. 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.