Principal Financial Group (NASDAQ:PFG) Price Target Cut to $84.00 by Analysts at Barclays

Principal Financial Group (NASDAQ:PFG) had its target price lowered by research analysts at Barclays from $85.00 to $84.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target points to a potential downside of 10.10% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Weiss Ratings upgraded Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $103.00 price objective on shares of Principal Financial Group in a research note on Monday, January 5th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $92.00 price objective on shares of Principal Financial Group in a research note on Thursday, March 26th. Piper Sandler raised their price target on Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Finally, Bank of America raised their price target on Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $94.11.

Principal Financial Group Stock Up 2.6%

Shares of NASDAQ PFG traded up $2.38 during mid-day trading on Wednesday, hitting $93.44. The company had a trading volume of 611,102 shares, compared to its average volume of 1,673,931. The company has a market capitalization of $20.26 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. Principal Financial Group has a 1-year low of $68.39 and a 1-year high of $97.88. The business’s 50-day simple moving average is $91.52 and its 200 day simple moving average is $87.66.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The business had revenue of $4.58 billion for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Insiders Place Their Bets

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $95.00, for a total value of $697,300.00. Following the sale, the chief executive officer directly owned 136,828 shares in the company, valued at $12,998,660. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 24,965 shares of company stock valued at $2,352,460 in the last 90 days. 1.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently made changes to their positions in the company. DV Equities LLC purchased a new position in shares of Principal Financial Group during the fourth quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Principal Financial Group during the fourth quarter worth about $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of Principal Financial Group during the fourth quarter worth about $26,000. Capital A Wealth Management LLC grew its holdings in shares of Principal Financial Group by 5,533.3% during the second quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock worth $27,000 after purchasing an additional 332 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of Principal Financial Group by 343.6% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after purchasing an additional 268 shares during 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 (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.