Principal Financial Group (NYSE:PFG) Given New $74.00 Price Target at Wells Fargo & Company

Principal Financial Group (NYSE:PFG) had its price objective raised by analysts at Wells Fargo & Company from $69.00 to $74.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 14.55% from the company’s previous close.

PFG has been the topic of several other research reports. BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. Barclays upped their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Piper Sandler increased their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $86.60 on Wednesday. Principal Financial Group has a 12 month low of $72.21 and a 12 month high of $91.97. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $80.31 and its 200 day simple moving average is $82.28. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.75 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PFG. AMF Tjanstepension AB increased its holdings in shares of Principal Financial Group by 28.7% in the third quarter. AMF Tjanstepension AB now owns 290,723 shares of the company’s stock worth $24,997,000 after purchasing an additional 64,915 shares during the period. Blue Trust Inc. increased its holdings in shares of Principal Financial Group by 76.8% in the third quarter. Blue Trust Inc. now owns 2,748 shares of the company’s stock worth $216,000 after purchasing an additional 1,194 shares during the period. Raymond James & Associates increased its stake in Principal Financial Group by 36.3% in the third quarter. Raymond James & Associates now owns 116,364 shares of the company’s stock valued at $9,996,000 after acquiring an additional 30,973 shares during the last quarter. International Assets Investment Management LLC increased its stake in Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after acquiring an additional 130,225 shares during the last quarter. Finally, Impact Partnership Wealth LLC increased its stake in Principal Financial Group by 25.7% in the third quarter. Impact Partnership Wealth LLC now owns 7,720 shares of the company’s stock valued at $663,000 after acquiring an additional 1,576 shares during the last quarter. 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.