Barclays Issues Positive Forecast for Principal Financial Group (NYSE:PFG) Stock Price

Principal Financial Group (NYSE:PFG) had its price target hoisted by equities researchers at Barclays from $77.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price objective suggests a potential downside of 2.83% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Keefe, Bruyette & Woods decreased their price objective on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $85.15.

Principal Financial Group Stock Performance

PFG stock traded up $2.33 during trading on Friday, reaching $82.33. 3,128,667 shares of the stock were exchanged, compared to its average volume of 1,441,095. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a market capitalization of $18.83 billion, a P/E ratio of -91.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.22. The stock has a 50 day simple moving average of $80.14 and a 200-day simple moving average of $82.09. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Institutional Trading of Principal Financial Group

A number of institutional investors have recently bought and sold shares of PFG. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at $33,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at $43,000. Sugarloaf Wealth Management LLC grew its holdings in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after buying an additional 195 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in shares of Principal Financial Group in the 3rd quarter valued at $45,000. Institutional investors and hedge funds 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.