Principal Financial Group (NASDAQ:PFG - Get Rating) had its price target hoisted by equities researchers at Piper Sandler to $80.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. Piper Sandler's price objective points to a potential upside of 2.01% from the company's previous close.
Other analysts also recently issued reports about the company. JPMorgan Chase & Co. downgraded Principal Financial Group from a "neutral" rating to an "underweight" rating and lifted their price target for the company from $69.00 to $72.00 in a research note on Friday, October 7th. Barclays boosted their price target on Principal Financial Group to $81.00 in a research report on Monday, August 15th. Raymond James initiated coverage on Principal Financial Group in a research report on Wednesday, September 21st. They issued a "market perform" rating for the company. Evercore ISI upped their price objective on Principal Financial Group to $76.00 in a research note on Monday, August 15th. Finally, Credit Suisse Group cut Principal Financial Group from an "outperform" rating to a "neutral" rating and increased their price target for the stock from $82.00 to $86.00 in a research report on Thursday, August 18th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $72.82.
Principal Financial Group Stock Performance
NASDAQ PFG traded up $2.38 during trading hours on Thursday, reaching $78.42. The stock had a trading volume of 32,998 shares, compared to its average volume of 1,815,935. The stock has a fifty day moving average of $76.30 and a 200 day moving average of $69.75. The stock has a market cap of $19.55 billion, a P/E ratio of 4.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. Principal Financial Group has a 52-week low of $61.05 and a 52-week high of $80.36. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.39 and a current ratio of 0.39.
Principal Financial Group (NASDAQ:PFG - Get Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.39 by $0.26. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.24 billion. Principal Financial Group had a return on equity of 13.09% and a net margin of 24.69%. Sell-side analysts predict that Principal Financial Group will post 6.38 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Sandra L. Helton sold 15,000 shares of the business's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $72.90, for a total value of $1,093,500.00. Following the sale, the director now directly owns 32,278 shares in the company, valued at approximately $2,353,066.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Wee Yee Cheong sold 2,447 shares of the business's stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $78.45, for a total transaction of $191,967.15. Following the sale, the executive vice president now directly owns 34,700 shares in the company, valued at $2,722,215. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sandra L. Helton sold 15,000 shares of the business's stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $72.90, for a total value of $1,093,500.00. Following the completion of the sale, the director now directly owns 32,278 shares in the company, valued at approximately $2,353,066.20. The disclosure for this sale can be found here. Insiders sold 45,422 shares of company stock worth $3,462,066 over the last 90 days. 1.17% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Cornerstone Advisory LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at $80,000. Mystic Asset Management Inc. bought a new stake in Principal Financial Group during the 4th quarter valued at $35,000. BlackRock Inc. increased its stake in Principal Financial Group by 2.3% in the fourth quarter. BlackRock Inc. now owns 22,496,639 shares of the company's stock valued at $1,627,183,000 after acquiring an additional 511,634 shares during the last quarter. JustInvest LLC boosted its position in Principal Financial Group by 77.7% during the fourth quarter. JustInvest LLC now owns 14,581 shares of the company's stock valued at $1,055,000 after buying an additional 6,376 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter worth about $86,000. 75.12% of the stock is owned by institutional investors and hedge funds.
About Principal Financial Group
(Get Rating)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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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Piper Sandler Increases Principal Financial Group (NASDAQ:PFG) Price Target to $80.00 - MarketBeat
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