Principal Financial Group (NYSE:PFG) Shares Gap Down - Should You Sell?

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $89.65, but opened at $86.88. Principal Financial Group shares last traded at $82.99, with a volume of 519,081 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays increased their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a report on Friday. Morgan Stanley dropped their price target on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Piper Sandler increased their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Citigroup lifted their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Tuesday, July 23rd. Finally, Raymond James raised Principal Financial Group from a "market perform" rating to a "strong-buy" rating and set a $99.00 target price on the stock in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group has an average rating of "Hold" and an average price target of $85.58.

Principal Financial Group Stock Performance

The stock has a 50 day simple moving average of $83.87 and a two-hundred day simple moving average of $81.73. The stock has a market capitalization of $19.62 billion, a P/E ratio of 15.85, a P/E/G ratio of 0.95 and a beta of 1.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the business posted $1.53 earnings per share. On average, equities analysts forecast that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GW Henssler & Associates Ltd. raised its stake in shares of Principal Financial Group by 0.6% in the third quarter. GW Henssler & Associates Ltd. now owns 203,522 shares of the company's stock worth $17,483,000 after purchasing an additional 1,197 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Principal Financial Group by 22.6% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 4,530 shares of the company's stock worth $389,000 after acquiring an additional 834 shares in the last quarter. Hunter Associates Investment Management LLC purchased a new position in shares of Principal Financial Group in the 3rd quarter valued at approximately $207,000. Concord Wealth Partners raised its holdings in Principal Financial Group by 822.8% during the third quarter. Concord Wealth Partners now owns 3,110 shares of the company's stock worth $267,000 after purchasing an additional 2,773 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Principal Financial Group in the third quarter worth $769,000. 75.08% of the stock is currently owned by institutional investors.

About Principal Financial Group

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.