Piper Sandler Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG) had its price objective hoisted by equities researchers at Piper Sandler from $90.00 to $93.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 11.22% from the stock’s current price.

A number of other research analysts have also recently issued reports on PFG. Morgan Stanley reiterated an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays boosted their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday. Wells Fargo & Company cut their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Finally, BMO Capital Markets began coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target for the company. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.38.

Principal Financial Group Stock Up 1.6 %

NYSE:PFG traded up $1.29 during trading hours on Monday, reaching $83.62. 181,035 shares of the company traded hands, compared to its average volume of 1,389,445. The business’s 50-day moving average price is $80.04 and its two-hundred day moving average price is $82.04. The stock has a market capitalization of $19.13 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.79 and a beta of 1.22. Principal Financial Group has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Institutional Trading of Principal Financial Group

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after acquiring an additional 118,722 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Principal Financial Group by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock valued at $112,129,000 after purchasing an additional 44,818 shares during the last quarter. Amundi lifted its holdings in Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after buying an additional 264,383 shares during the last quarter. Barclays PLC raised its position in shares of Principal Financial Group by 12.3% during the 3rd quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after purchasing an additional 88,179 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in Principal Financial Group by 23.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock valued at $51,509,000 after acquiring an additional 125,198 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

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.