Principal Financial Group (NYSE:PFG - Get Free Report) was upgraded by research analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a $90.00 price objective on the stock. Piper Sandler's price target indicates a potential upside of 20.14% from the company's previous close.
A number of other research firms have also commented on PFG. Barclays lifted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Bank of America reduced their price objective on shares of 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. Royal Bank of Canada lifted their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 19th. Morgan Stanley restated an "underweight" rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Wells Fargo & Company reiterated an "underweight" rating and set a $75.00 price target (down from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Principal Financial Group currently has an average rating of "Hold" and a consensus price target of $84.75.
Check Out Our Latest Report on PFG
Principal Financial Group Trading Down 3.4 %
Shares of PFG stock traded down $2.63 during mid-day trading on Wednesday, reaching $74.91. 1,758,417 shares of the stock traded hands, compared to its average volume of 1,149,512. The stock's fifty day simple moving average is $85.22 and its two-hundred day simple moving average is $82.33. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market cap of $17.13 billion, a price-to-earnings ratio of -83.23, a price-to-earnings-growth ratio of 0.92 and a beta of 1.20.
Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the previous year, the firm earned $1.72 earnings per share. On average, research analysts anticipate that Principal Financial Group will post 7.03 EPS for the current fiscal year.
Hedge Funds Weigh In On Principal Financial Group
Institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in Principal Financial Group during the 2nd quarter valued at about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the third quarter valued at approximately $33,000. Family Firm Inc. bought a new stake in Principal Financial Group during the second quarter worth $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group in the 3rd quarter valued at $43,000. Finally, Prospera Private Wealth LLC bought a new position in Principal Financial Group during the 3rd quarter valued at $45,000. 75.08% of the stock is owned by institutional investors and hedge funds.
About Principal Financial Group
(
Get Free Report)
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.
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