Principal Financial Group (NYSE:PFG) Price Target Cut to $85.00

Principal Financial Group (NYSE:PFG) had its price objective dropped by investment analysts at Wells Fargo & Company from $91.00 to $85.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 7.40% from the company’s current price.

PFG has been the topic of several other reports. Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley increased their target price on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler lifted their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Finally, Evercore ISI increased their price target on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.09.

Principal Financial Group Trading Down 1.6 %

PFG opened at $79.14 on Monday. Principal Financial Group has a 52 week low of $65.17 and a 52 week high of $86.79. The stock has a market cap of $18.61 billion, a PE ratio of 15.10, a PEG ratio of 0.84 and a beta of 1.25. The business has a 50 day moving average of $81.77 and a 200-day moving average of $77.69. The company has a quick ratio of 0.30, a current ratio of 0.27 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. Equities research analysts predict that Principal Financial Group will post 7.58 earnings per share for the current fiscal year.

Principal Financial Group announced that its Board of Directors has authorized a share repurchase plan on Monday, February 12th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norden Group LLC purchased a new stake in shares of Principal Financial Group during the first quarter worth about $823,000. Concord Wealth Partners increased its holdings in shares of Principal Financial Group by 466.2% during the 1st quarter. Concord Wealth Partners now owns 3,137 shares of the company’s stock valued at $271,000 after purchasing an additional 2,583 shares in the last quarter. Caprock Group LLC increased its holdings in Principal Financial Group by 3.6% in the first quarter. Caprock Group LLC now owns 5,172 shares of the company’s stock valued at $446,000 after buying an additional 178 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Principal Financial Group by 16.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 66,029 shares of the company’s stock worth $5,699,000 after purchasing an additional 9,129 shares during the period. Finally, FAS Wealth Partners Inc. raised its stake in shares of Principal Financial Group by 4.3% during the 1st quarter. FAS Wealth Partners Inc. now owns 26,351 shares of the company’s stock worth $2,274,000 after buying an additional 1,076 shares during the period. Hedge funds and other 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.