Principal Financial Group (NYSE:PFG) Price Target Increased to $78.00 by Analysts at Jefferies Financial Group

Principal Financial Group (NYSE:PFG) had its price target raised by analysts at Jefferies Financial Group from $74.00 to $78.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective indicates a potential downside of 1.39% from the company’s previous close.

PFG has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. Piper Sandler increased their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Evercore ISI raised their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.50.

Principal Financial Group Trading Down 0.5 %

Principal Financial Group stock traded down $0.36 during midday trading on Friday, hitting $79.10. 285,430 shares of the stock were exchanged, compared to its average volume of 1,069,601. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group has a 52 week low of $66.21 and a 52 week high of $86.79. The company has a fifty day simple moving average of $80.96 and a two-hundred day simple moving average of $80.52. The stock has a market capitalization of $18.54 billion, a PE ratio of 15.10, a P/E/G ratio of 0.86 and a beta of 1.23.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm earned $1.48 EPS. Equities research analysts anticipate that Principal Financial Group will post 7.5 EPS for the current fiscal year.

Institutional Trading of Principal Financial Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Spire Wealth Management lifted its holdings in shares of Principal Financial Group by 152.0% in the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Principal Financial Group during the 4th quarter worth approximately $31,000. Fortis Group Advisors LLC purchased a new stake in Principal Financial Group during the 3rd quarter worth approximately $33,000. Newbridge Financial Services Group Inc. purchased a new stake in Principal Financial Group during the 4th quarter worth approximately $33,000. Finally, Riverview Trust Co purchased a new stake in Principal Financial Group during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

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.