Principal Financial Group (NYSE:PFG) PT Lowered to $91.00

Principal Financial Group (NYSE:PFG) had its price objective decreased by research analysts at Bank of America from $94.00 to $91.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 2.02% from the stock’s current price.

A number of other brokerages have also recently commented on PFG. Raymond James raised 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. Morgan Stanley lowered their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Royal Bank of Canada boosted their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Barclays raised their target price on shares of Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Piper Sandler upped their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $85.42.

Principal Financial Group Stock Up 2.0 %

Principal Financial Group stock opened at $89.20 on Thursday. The stock has a market cap of $20.66 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a fifty day moving average of $81.07 and a 200 day moving average of $81.44. Principal Financial Group has a one year low of $66.21 and a one year high of $89.51.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm posted $1.53 earnings per share. As a group, sell-side analysts predict that Principal Financial Group will post 7.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its holdings in shares of Principal Financial Group by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock worth $25,624,000 after purchasing an additional 18,368 shares during the period. Cetera Investment Advisers raised its holdings in Principal Financial Group by 108.1% in the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after purchasing an additional 27,827 shares in the last quarter. Sei Investments Co. lifted its position in shares of Principal Financial Group by 59.4% during the first quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock valued at $2,095,000 after buying an additional 9,048 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Principal Financial Group by 8.6% in the 1st quarter. Sound Income Strategies LLC now owns 181,776 shares of the company’s stock valued at $15,689,000 after buying an additional 14,339 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Principal Financial Group in the 1st quarter worth approximately $1,097,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

About Principal Financial Group

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.