Principal Financial Group (NYSE:PFG) Price Target Raised to $93.00

Principal Financial Group (NYSE:PFG) had its price target boosted by stock analysts at Piper Sandler from $90.00 to $93.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 11.22% from the company’s current price.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Wells Fargo & Company lowered their price objective on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Finally, BMO Capital Markets assumed coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and an average target price of $85.38.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded up $1.29 during midday trading on Monday, reaching $83.62. 181,035 shares of the company were exchanged, compared to its average volume of 1,389,445. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $19.13 billion, a P/E ratio of 12.52, a PEG 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 stock has a fifty day simple moving average of $80.04 and a 200 day simple moving average of $82.04.

Institutional Trading of Principal Financial Group

Several institutional investors have recently added to or reduced their stakes in the stock. AMF Tjanstepension AB grew its stake in shares of Principal Financial Group by 28.7% during the 3rd quarter. AMF Tjanstepension AB now owns 290,723 shares of the company’s stock worth $24,997,000 after acquiring an additional 64,915 shares during the period. Atomi Financial Group Inc. purchased a new stake in Principal Financial Group during the 3rd quarter worth about $209,000. CWM LLC lifted its holdings in Principal Financial Group by 10.0% during the 3rd quarter. CWM LLC now owns 12,410 shares of the company’s stock worth $1,066,000 after purchasing an additional 1,125 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Principal Financial Group by 434.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,182 shares of the company’s stock worth $359,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Principal Financial Group by 2,192.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the company’s stock valued at $256,000 after acquiring an additional 2,850 shares in the last quarter. 75.08% of the stock is currently owned by 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.