Principal Financial Group (NYSE:PFG) Raised to Overweight at JPMorgan Chase & Co.

Principal Financial Group (NYSE:PFG) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $92.00 target price on the stock, down from their prior target price of $95.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 17.45% from the stock’s current price.

PFG has been the subject of a number of other reports. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a report on Wednesday, December 18th. Bank of America cut their price target 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. Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $75.00 price objective (down from $84.00) on shares of Principal Financial Group in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $84.42.

Principal Financial Group Stock Up 0.0 %

Shares of Principal Financial Group stock opened at $78.33 on Tuesday. The company has a market cap of $17.92 billion, a P/E ratio of -87.03, a PEG ratio of 0.92 and a beta of 1.22. The firm has a fifty day moving average of $81.99 and a two-hundred day moving average of $82.19. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $1.72 EPS. On average, analysts forecast that Principal Financial Group will post 7.03 earnings per share for the current year.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Metis Global Partners LLC boosted its position in Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after acquiring an additional 533 shares during the period. Sanctuary Advisors LLC increased its stake in Principal Financial Group by 66.2% during 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 period. Intech Investment Management LLC raised its position in shares of Principal Financial Group by 27.1% during the 2nd quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock worth $23,422,000 after buying an additional 63,747 shares in the last quarter. Empowered Funds LLC boosted its stake in Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after purchasing an additional 12,768 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Principal Financial Group in the third quarter worth about $2,441,000. 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.