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

Principal Financial Group (NYSE:PFG) had its price objective lowered by equities researchers at Wells Fargo & Company from $75.00 to $69.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 11.91% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a research report on Wednesday, December 18th. Barclays increased their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Bank of America decreased their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.25.

Principal Financial Group Stock Up 0.7 %

Shares of Principal Financial Group stock traded up $0.53 during trading on Tuesday, hitting $78.33. The company’s stock had a trading volume of 174,826 shares, compared to its average volume of 874,727. 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 company has a fifty day simple moving average of $81.72 and a two-hundred day simple moving average of $82.15. The company has a market capitalization of $17.92 billion, a PE ratio of -87.03, a P/E/G ratio of 0.92 and a beta of 1.22. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.97.

Principal Financial Group (NYSE:PFG) last announced 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). The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the business earned $1.72 EPS. Equities research analysts predict that Principal Financial Group will post 7.03 earnings per share for the current year.

Institutional Investors Weigh In On Principal Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of PFG. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group in the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC grew its position in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new stake in Principal Financial Group during the third quarter worth $45,000. Finally, Capital Performance Advisors LLP purchased a new stake in Principal Financial Group in the third quarter valued at $50,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.