Piper Sandler raises Principal Financial stock target By Investing.com - Investing.com Canada

On Friday, Piper Sandler adjusted its price target for Principal Financial Group (NASDAQ:), listed on NASDAQ:PFG, to $90 from the previous $85, while maintaining a Neutral rating on the stock. The new target suggests a shift in the firm's expectations for the financial services company's stock performance.

The adjustment by the investment banking firm comes without a change to the stock's rating, indicating that while Piper Sandler sees potential for increased value in Principal Financial Group's shares, it does not alter its overall stance on the company's investment outlook.

InvestingPro Insights

As Piper Sandler updates its price target for Principal Financial Group (NASDAQ:PFG), investors seeking additional context can consider the latest data and insights from InvestingPro. The company, with a market capitalization of 19.95 billion , is trading at a high earnings multiple with a P/E ratio of 32.92, reflecting investor confidence in its future earnings potential. Despite a revenue decline over the last twelve months, Principal Financial Group has maintained a strong commitment to shareholder returns, increasing its dividend for 15 consecutive years and currently offering a dividend yield of 3.26%.

Two InvestingPro Tips highlight the company's financial prospects: Principal Financial Group is expected to see net income growth this year, and analysts predict it will remain profitable, with profitability already demonstrated over the last twelve months. These factors, combined with the company's consistent dividend payments for 23 consecutive years, may be of particular interest to income-focused investors.

For those considering an investment, the InvestingPro platform offers additional insights into Principal Financial Group, with several more InvestingPro Tips available. To explore these further and enrich your investment strategy, utilize the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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Piper Sandler raises Principal Financial stock target By Investing.com - Investing.com Canada
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