Keefe, Bruyette & Woods Issues Pessimistic Forecast for Principal Financial Group (NYSE:PFG) Stock Price

Principal Financial Group (NYSE:PFG) had its target price dropped by equities research analysts at Keefe, Bruyette & Woods from $93.00 to $90.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 17.89% from the stock’s previous close.

PFG has been the topic of several other research reports. Wells Fargo & Company reiterated an “underweight” rating and set a $75.00 target price (down previously from $84.00) on shares of Principal Financial Group in a research report on Wednesday, December 11th. Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a report on Wednesday, December 18th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus target price of $84.75.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $76.34 on Friday. The stock has a fifty day moving average price of $81.79 and a 200 day moving average price of $82.15. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $17.46 billion, a PE ratio of -84.82, a P/E/G ratio of 0.92 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $1.72 EPS. Sell-side analysts forecast that Principal Financial Group will post 7.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Metis Global Partners LLC raised its position in shares of Principal Financial Group by 5.0% in the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Principal Financial Group by 66.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after acquiring an additional 9,933 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Principal Financial Group by 27.1% during the second quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock worth $23,422,000 after purchasing an additional 63,747 shares during the last quarter. Empowered Funds LLC grew its position in shares of Principal Financial Group by 358.7% in the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after purchasing an additional 12,768 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Principal Financial Group in the third quarter valued at $2,441,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.