Principal Financial Group (NYSE:PFG) Price Target Increased to $77.00 by Analysts at Barclays

Principal Financial Group (NYSE:PFG) had its price objective hoisted by Barclays from $75.00 to $77.00 in a report issued on Friday, Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other research firms also recently commented on PFG. Citigroup increased their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley cut their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Bank of America reduced their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average price target of $85.58.

Principal Financial Group Stock Down 6.6 %

Principal Financial Group stock traded down $5.94 during trading hours on Friday, hitting $83.71. The company had a trading volume of 4,195,277 shares, compared to its average volume of 1,131,609. The firm’s fifty day moving average is $83.87 and its 200-day moving average is $81.73. The firm has a market capitalization of $19.62 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. Principal Financial Group has a fifty-two week low of $66.71 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the firm earned $1.53 EPS. On average, research analysts forecast that Principal Financial Group will post 7.31 earnings per share for the current year.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in shares of Principal Financial Group by 403.6% in 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 during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Principal Financial Group during the second quarter worth $19,698,000. BNP Paribas Financial Markets increased its stake in shares of Principal Financial Group by 165.2% in the first quarter. BNP Paribas Financial Markets now owns 337,877 shares of the company’s stock valued at $29,162,000 after buying an additional 210,476 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Principal Financial Group by 586.1% during the first quarter. Intech Investment Management LLC now owns 234,815 shares of the company’s stock worth $20,267,000 after purchasing an additional 200,588 shares in the last quarter. Finally, Swedbank AB acquired a new position in Principal Financial Group during the 1st quarter worth $13,996,000. Institutional investors own 75.08% of the company’s stock.

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.