Principal Financial Group, Inc. (NYSE:PFG) Receives $88.60 Average Price Target from Analysts

Principal Financial Group, Inc. (NYSE:PFG) has been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $88.70.

A number of equities analysts recently weighed in on PFG shares. JPMorgan Chase & Co. upped their price target on Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. UBS Group upped their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Morgan Stanley raised Principal Financial Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $80.00 to $81.00 in a report on Thursday. Wells Fargo & Company upped their price target on Principal Financial Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Finally, Evercore ISI upped their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th.

Principal Financial Group Stock Up 0.2%

Shares of PFG opened at $79.62 on Monday. Principal Financial Group has a 52 week low of $68.39 and a 52 week high of $90.31. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.76 and a beta of 1.03. The stock’s 50-day moving average price is $80.91 and its 200-day moving average price is $78.71.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the prior year, the business earned $1.63 EPS. On average, sell-side analysts predict that Principal Financial Group will post 8.5 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new position in shares of Principal Financial Group in the second quarter valued at approximately $3,269,000. Blackhawk Capital Partners LLC. purchased a new position in shares of Principal Financial Group in the first quarter valued at approximately $281,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Principal Financial Group by 2.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company’s stock valued at $44,433,000 after acquiring an additional 13,483 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Principal Financial Group by 3.5% in the second quarter. Public Employees Retirement System of Ohio now owns 72,348 shares of the company’s stock valued at $5,747,000 after acquiring an additional 2,469 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Principal Financial Group by 802.2% in the first quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company’s stock valued at $312,805,000 after acquiring an additional 3,296,608 shares in the last quarter. Hedge funds and other 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.