Principal Financial Group (NYSE:PFG)’s price target dropped to $83.00

Principal Financial Group (NYSE:PFG – Get Free Report) had its price target lowered by equities research analysts at Morgan Stanley from $85.00 to $83.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 7.54% from the company’s current price.

PFG has been the subject of several other research reports. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Jefferies Financial Group boosted their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Bank of America upped their price target on Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Finally, Citigroup boosted their price target on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.58, according to MarketBeat.com.

Read the latest stock report on the leading financial group

Major financial group trades down 1.3%

Shares of PFG stock opened at $77.18 on Monday. The company has a fifty day simple moving average of $79.67 and a two hundred day simple moving average of $80.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29, and a quick ratio of 0.29. Principal Financial Group has a 1 year low of $66.21 and a 1 year high of $88.26. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.80 and a beta of 1.21.

Principal Financial Group (NYSE:PFG – Get Free Report ) last posted its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same period in the previous year, the firm earned $1.53 EPS. As a group, analysts anticipate that Principal Financial Group will post 7.33 earnings per share for the current year.

Institutional trading of the main financial group

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of Principal Financial Group by 9,002.1% in the fourth quarter. International Assets Investment Management LLC now owns 163,383 shares of the company’s stock worth $12,853,000 after purchasing an additional 161,588 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Principal Financial Group during the fourth quarter valued at about $1,046,000. SVB Wealth LLC boosted its holdings in shares of Principal Financial Group by 37.9% during the fourth quarter. SVB Wealth LLC now owns 3,988 shares of the company’s stock worth $314,000 after purchasing an additional 1,096 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Principal Financial Group by 5.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 20,972 shares of the company’s stock worth $1,650,000 after buying an additional 1,026 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Principal Financial Group by 16.8% during the fourth quarter. Xponance Inc. now owns 36,960 shares of the company’s stock worth $2,908,000 after purchasing an additional 5,324 shares during the period. 75.08% of the shares are currently held by hedge funds and other institutional investors.

About Principal Financial Group

(Get a free report)

Principal Financial Group, Inc provides pension, asset management and insurance products and services to companies, individuals and institutional clients worldwide. The company operates through the Pension & Income Solutions, Principal Asset Management and Benefits & Protection segments. The Retirement & Income Solutions segment provides retirement and related financial products and services.

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