Piper Sandler Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG) had its price target raised by stock analysts at Piper Sandler from $93.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 19.77% from the stock’s previous close.

A number of other analysts have also commented on the stock. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Barclays increased their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average price target of $86.57.

Principal Financial Group Trading Down 8.0 %

Shares of Principal Financial Group stock opened at $79.32 on Wednesday. The stock has a market capitalization of $17.89 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.98. The stock has a 50 day moving average price of $84.30 and a two-hundred day moving average price of $83.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Institutional Trading of Principal Financial Group

Several hedge funds have recently added to or reduced their stakes in PFG. Geode Capital Management LLC lifted its stake in Principal Financial Group by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company’s stock valued at $422,074,000 after purchasing an additional 52,410 shares during the last quarter. Northern Trust Corp lifted its position in shares of Principal Financial Group by 9.8% during the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock valued at $283,546,000 after buying an additional 326,604 shares during the last quarter. Norges Bank purchased a new stake in Principal Financial Group in the 4th quarter worth about $217,021,000. JPMorgan Chase & Co. lifted its holdings in Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after purchasing an additional 118,722 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Principal Financial Group by 12.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock worth $145,318,000 after purchasing an additional 209,885 shares during the period. 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.