Principal Financial Group (NYSE:PFG) Price Target Lowered to $69.00 at Wells Fargo & Company

Principal Financial Group (NYSE:PFG) had its price objective cut by equities research analysts at Wells Fargo & Company from $75.00 to $69.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 13.84% from the stock’s previous close.

Several other research analysts have also issued reports on PFG. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research note on Wednesday, December 18th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Bank of America reduced their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Finally, Barclays boosted their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average price target of $84.25.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $80.08 on Tuesday. Principal Financial Group has a twelve month low of $72.21 and a twelve month 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. The firm has a market cap of $18.32 billion, a P/E ratio of -88.98, a price-to-earnings-growth ratio of 0.92 and a beta of 1.22. The firm’s 50-day simple moving average is $81.64 and its 200-day simple moving average is $82.16.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share 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 prior year, the company posted $1.72 earnings per share. As a group, research analysts expect that Principal Financial Group will post 7.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Principal Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group in the third quarter worth about $33,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group in the 3rd quarter valued at about $43,000. Sugarloaf Wealth Management LLC grew its position in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group during the third quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP acquired a new position in Principal Financial Group in the third quarter valued at approximately $50,000. 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.