Principal Financial Group’s (PFG) “Market Perform” Rating Reaffirmed at Keefe, Bruyette & Woods

Principal Financial Group (NASDAQ:PFG)‘s stock had its “market perform” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a research note issued on Thursday,Benzinga reports. They presently have a $92.00 price target on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 4.35% from the stock’s current price.

A number of other analysts also recently commented on PFG. Weiss Ratings raised Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Morgan Stanley upped their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. UBS Group raised their target price on Principal Financial Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Wells Fargo & Company raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $85.00 to $91.00 in a report on Wednesday, February 25th. Finally, Bank of America raised their price objective on shares of Principal Financial Group from $95.00 to $96.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $94.22.

Principal Financial Group Stock Down 0.6%

Principal Financial Group stock traded down $0.56 during midday trading on Thursday, hitting $88.16. 495,879 shares of the stock were exchanged, compared to its average volume of 1,739,309. Principal Financial Group has a 52-week low of $68.39 and a 52-week high of $97.88. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $91.71 and its 200-day moving average price is $87.08. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.82 and a beta of 0.87.

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

Insider Activity at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the transaction, the chief executive officer owned 144,168 shares in the company, valued at approximately $13,713,260.16. This represents a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 24,965 shares of company stock worth $2,352,460. 1.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Principal Financial Group

Institutional investors have recently added to or reduced their stakes in the business. DV Equities LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Principal Financial Group in the 4th quarter worth approximately $26,000. Hilton Head Capital Partners LLC purchased a new stake in Principal Financial Group in the 4th quarter worth approximately $26,000. Capital A Wealth Management LLC boosted its holdings in Principal Financial Group by 5,533.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after purchasing an additional 332 shares during the period. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in Principal Financial Group by 343.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after purchasing an additional 268 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

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.