Barclays Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG - Get Free Report) had its price target upped by investment analysts at Barclays from $77.00 to $80.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price objective indicates a potential downside of 6.38% from the company's previous close.

Several other research analysts also recently commented on the company. Piper Sandler raised Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price objective on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. Bank of America decreased their price objective on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Finally, BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $85.38.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded up $1.07 during trading on Friday, hitting $85.45. The company had a trading volume of 1,952,325 shares, compared to its average volume of 1,503,338. The stock has a 50 day simple moving average of $80.02 and a 200 day simple moving average of $82.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group has a 12 month low of $72.21 and a 12 month high of $91.97. The firm has a market capitalization of $19.54 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22.

Hedge Funds Weigh In On Principal Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of PFG. Amundi boosted its holdings in shares of Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock worth $106,511,000 after purchasing an additional 264,383 shares during the period. KBC Group NV boosted its holdings in shares of Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company's stock worth $22,555,000 after purchasing an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company's stock worth $40,041,000 after purchasing an additional 215,045 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Principal Financial Group in the 4th quarter worth approximately $15,821,000. Finally, Bank of Montreal Can boosted its holdings in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock worth $43,367,000 after purchasing an additional 146,473 shares during the period. Hedge funds and other institutional investors 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.