Principal Financial Group, Inc. (NYSE:PFG) Receives $84.25 Consensus Price Target from Analysts

Principal Financial Group, Inc. (NYSE:PFG) has earned an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $84.25.

PFG has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their target price on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Wednesday, December 18th. Wells Fargo & Company cut their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, 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, October 25th.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $81.66 on Friday. The business’s 50 day simple moving average is $81.15 and its 200 day simple moving average is $82.25. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97. The stock has a market capitalization of $18.68 billion, a PE ratio of -90.73, a PEG ratio of 0.80 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) 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 negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. As a group, research analysts forecast that Principal Financial Group will post 7.01 earnings per share for the current year.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors have recently modified their holdings of the company. Metis Global Partners LLC raised its position in shares of Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after purchasing an additional 533 shares during the period. Sanctuary Advisors LLC raised its position in Principal Financial Group by 66.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after buying an additional 9,933 shares during the last quarter. Intech Investment Management LLC raised its position in Principal Financial Group by 27.1% in the 2nd quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock valued at $23,422,000 after buying an additional 63,747 shares during the last quarter. Empowered Funds LLC raised its position in Principal Financial Group by 358.7% in the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after buying an additional 12,768 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Principal Financial Group by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 231,277 shares of the company’s stock valued at $19,867,000 after buying an additional 6,817 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

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.