Brokerages Set Principal Financial Group, Inc. (NYSE:PFG) PT at $92.88

Principal Financial Group, Inc. (NYSE:PFG) has been given an average recommendation of “Reduce” by the eight ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $92.8750.

A number of research analysts have recently issued reports on PFG shares. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $74.00 to $85.00 and gave the company an “underweight” rating in a research note on Tuesday, January 13th. Barclays reaffirmed an “underweight” rating and set a $85.00 price target on shares of Principal Financial Group in a report on Thursday, January 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $103.00 price objective on shares of Principal Financial Group in a research note on Monday, January 5th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Finally, Morgan Stanley set a $93.00 target price on Principal Financial Group in a research note on Monday, December 15th.

Insider Buying and Selling

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares in the company, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wee Yee Cheong sold 1,887 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the sale, the executive vice president owned 81,421 shares of the company’s stock, valued at approximately $6,924,041.84. The trade was a 2.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,512 shares of company stock worth $1,815,630 over the last quarter. 1.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Principal Financial Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 27,345,064 shares of the company’s stock worth $2,172,018,000 after purchasing an additional 97,149 shares during the period. Bank of America Corp DE raised its stake in Principal Financial Group by 9.6% during the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock worth $982,617,000 after buying an additional 1,083,991 shares during the period. Invesco Ltd. lifted its holdings in Principal Financial Group by 23.2% during the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company’s stock worth $279,970,000 after acquiring an additional 636,334 shares in the last quarter. Norges Bank acquired a new position in Principal Financial Group in the second quarter valued at about $227,098,000. Finally, UBS Group AG increased its holdings in shares of Principal Financial Group by 62.3% in the third quarter. UBS Group AG now owns 2,023,880 shares of the company’s stock worth $167,800,000 after acquiring an additional 776,997 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Down 0.0%

Shares of NYSE:PFG opened at $94.72 on Wednesday. The company’s fifty day moving average is $89.25 and its 200-day moving average is $83.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group has a 52 week low of $68.39 and a 52 week high of $95.40. The company has a market capitalization of $21.10 billion, a PE ratio of 14.18, a P/E/G ratio of 0.76 and a beta of 0.89.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.