Principal Financial Group (NYSE:PFG) Price Target Raised to $70.00 at Citigroup

Principal Financial Group (NYSE:PFG) had its price objective raised by Citigroup from $68.00 to $70.00 in a research note published on Tuesday, Benzinga reports. Citigroup currently has a sell rating on the stock.

Several other research firms have also issued reports on PFG. Raymond James raised Principal Financial Group from a market perform rating to a strong-buy rating and set a $99.00 price target for the company in a report on Tuesday, July 9th. Wells Fargo & Company dropped their price objective on Principal Financial Group from $91.00 to $85.00 and set an equal weight rating for the company in a research note on Monday, April 29th. Evercore ISI upped their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an in-line rating in a research note on Thursday, April 11th. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a neutral rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from an underweight rating to a neutral rating and upped their price objective for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $85.42.

Principal Financial Group Stock Down 0.6 %

Shares of PFG stock traded down $0.55 during trading hours on Tuesday, hitting $84.42. 463,731 shares of the company’s stock traded hands, compared to its average volume of 1,094,330. The stock’s fifty day simple moving average is $81.22 and its two-hundred day simple moving average is $81.01. Principal Financial Group has a 12-month low of $66.21 and a 12-month high of $88.26. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.94 and a beta of 1.21. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last announced 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 return on equity of 15.06% and a net margin of 8.70%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. On average, analysts expect that Principal Financial Group will post 7.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PFG. Spire Wealth Management grew its stake in Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Riverview Trust Co bought a new position in Principal Financial Group in the first quarter worth approximately $34,000. EdgeRock Capital LLC bought a new position in Principal Financial Group in the fourth quarter worth approximately $31,000. Newbridge Financial Services Group Inc. bought a new position in Principal Financial Group in the fourth quarter worth approximately $33,000. Finally, PrairieView Partners LLC bought a new stake in Principal Financial Group during the 4th quarter valued at $39,000. 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.