Piper Sandler Upgrades Principal Financial Group (NYSE:PFG) to Overweight

Principal Financial Group (NYSE:PFGGet Free Report) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a $90.00 price objective on the stock. Piper Sandler’s price objective would suggest a potential upside of 16.07% from the stock’s previous close.

PFG has been the topic of several other reports. 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. Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company reissued an “underweight” rating and set a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Barclays raised their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their price objective on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average target price of $84.75.

Get Our Latest Stock Report on PFG

Principal Financial Group Stock Performance

PFG stock opened at $77.54 on Wednesday. The company has a market cap of $17.74 billion, a P/E ratio of -86.16, a price-to-earnings-growth ratio of 0.92 and a beta of 1.20. 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 has a 1 year low of $72.21 and a 1 year high of $91.97. The stock’s fifty day moving average price is $85.47 and its 200-day moving average price is $82.38.

Principal Financial Group (NYSE:PFGGet Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. On average, equities analysts forecast that Principal Financial Group will post 7.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in Principal Financial Group during the second quarter valued at $26,000. Strategic Financial Concepts LLC bought a new position in shares of Principal Financial Group in the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new position in Principal Financial Group in the second quarter worth about $33,000. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the third quarter worth approximately $33,000. Finally, Innealta Capital LLC bought a new stake in Principal Financial Group during the second quarter worth approximately $43,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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