Principal Financial Group (NYSE:PFG) Given New $85.00 Price Target at Wells Fargo & Company

Principal Financial Group (NYSE:PFG) had its price target dropped by research analysts at Wells Fargo & Company from $87.00 to $85.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 4.53% from the stock’s current price.

PFG has been the topic of several other research reports. Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a report on Tuesday, July 9th. Evercore ISI raised their price target on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Jefferies Financial Group boosted their target price on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.42.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded down $0.21 during mid-day trading on Monday, hitting $81.32. The company had a trading volume of 60,646 shares, compared to its average volume of 1,099,511. Principal Financial Group has a 12 month low of $66.21 and a 12 month high of $88.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.29. The firm has a market cap of $19.06 billion, a P/E ratio of 15.52, a PEG ratio of 0.90 and a beta of 1.21. The business’s 50-day simple moving average is $81.13 and its 200-day simple moving average is $81.09.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the business posted $1.53 EPS. As a group, analysts predict that Principal Financial Group will post 7.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in Principal Financial Group during the second quarter worth about $26,000. Spire Wealth Management boosted its stake in shares of Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares during the period. Riverview Trust Co acquired a new position in shares of Principal Financial Group during the 1st quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Principal Financial Group during the 4th quarter valued at $33,000. Finally, Family Firm Inc. bought a new position in shares of Principal Financial Group in the second quarter valued at about $33,000. 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.