Wells Fargo & Company Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG) had its target price hoisted by Wells Fargo & Company from $69.00 to $74.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 14.51% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Piper Sandler increased their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Barclays increased their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. BMO Capital Markets began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Up 0.4 %

PFG opened at $86.56 on Wednesday. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.26 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $80.58 and a 200-day moving average of $82.34. The stock has a market cap of $19.80 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Curio Wealth LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the third quarter valued at about $33,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at about $33,000. Navigoe LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at about $37,000. Finally, Covestor Ltd raised its holdings in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after purchasing an additional 319 shares during the last quarter. 75.08% of the stock is 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.