Royal Bank of Canada Issues Positive Forecast for Principal Financial Group (NYSE:PFG) Stock Price

Principal Financial Group (NYSE:PFG - Get Free Report) had its target price hoisted by Royal Bank of Canada from $87.00 to $91.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank of Canada's price target indicates a potential upside of 8.10% from the company's previous close.

PFG has been the subject of several other research reports. Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research note on Thursday, October 10th. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Citigroup increased their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a "sell" rating in a report on Tuesday, July 23rd. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $85.92.

Principal Financial Group Stock Performance

Shares of NYSE:PFG traded down $1.89 during trading on Tuesday, reaching $84.18. The stock had a trading volume of 1,348,393 shares, compared to its average volume of 1,143,466. The stock has a fifty day simple moving average of $85.84 and a two-hundred day simple moving average of $82.30. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group has a 52 week low of $71.39 and a 52 week high of $91.97. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of -93.53, a P/E/G ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the business earned $1.72 EPS. As a group, analysts anticipate that Principal Financial Group will post 7.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in shares of Principal Financial Group by 403.6% during the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company's stock worth $27,800,000 after purchasing an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $19,698,000. Swedbank AB acquired a new position in shares of Principal Financial Group in the 1st quarter worth approximately $13,996,000. Capital Research Global Investors grew its position in Principal Financial Group by 2.4% during the 1st quarter. Capital Research Global Investors now owns 6,602,298 shares of the company's stock worth $569,844,000 after acquiring an additional 152,774 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock valued at $43,367,000 after purchasing an additional 146,473 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.