Analysts Set Principal Financial Group, Inc. (NYSE:PFG) Price Target at $84.25

Principal Financial Group, Inc. (NYSE:PFG) has been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $84.92.

Several equities analysts have recently issued reports on PFG shares. Barclays boosted their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Bank of America decreased their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company cut their price target 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. BMO Capital Markets assumed coverage on Principal Financial Group in a report on Thursday. They issued a “market perform” rating and a $93.00 price objective for the company. Finally, 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 note on Wednesday, December 18th.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $81.83 on Friday. The company has a market cap of $18.72 billion, a P/E ratio of -90.92, a PEG ratio of 0.80 and a beta of 1.22. The business has a 50 day moving average of $80.96 and a two-hundred day moving average of $82.24. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, analysts anticipate that Principal Financial Group will post 7.01 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Columbus Macro LLC lifted its holdings in shares of Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after purchasing an additional 8,169 shares in the last quarter. CENTRAL TRUST Co lifted its stake in Principal Financial Group by 9.6% in the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after acquiring an additional 151 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in Principal Financial Group during the 4th quarter worth about $1,435,000. Busey Bank purchased a new position in Principal Financial Group during the 4th quarter valued at about $226,000. Finally, Nilsine Partners LLC increased its holdings in shares of Principal Financial Group by 12.7% in the 4th quarter. Nilsine Partners LLC now owns 4,743 shares of the company’s stock valued at $367,000 after purchasing an additional 536 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

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.