Principal Financial Group (NASDAQ:PFG) Price Target Raised to $106.00

Principal Financial Group (NASDAQ:PFG) had its target price boosted by JPMorgan Chase & Co. from $101.00 to $106.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on PFG. Raymond James Financial downgraded Principal Financial Group from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $99.00 to $111.00 in a research note on Tuesday, May 19th. Morgan Stanley increased their price target on Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Jefferies Financial Group boosted their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Principal Financial Group from $102.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $105.00.

Principal Financial Group Price Performance

PFG opened at $107.32 on Tuesday. The firm has a market capitalization of $23.18 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The business’s 50-day moving average is $107.96 and its two-hundred day moving average is $98.29. Principal Financial Group has a 1 year low of $75.00 and a 1 year high of $114.90.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same quarter in the previous year, the firm earned $1.81 EPS. Research analysts anticipate that Principal Financial Group will post 9.45 earnings per share for the current fiscal year.

Insider Transactions at Principal Financial Group

In related news, insider Wee Yee Cheong sold 7,534 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the transaction, the insider owned 66,443 shares in the company, valued at approximately $6,854,259.88. This represents a 10.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel George Djurasovic sold 2,571 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares of the company’s stock, valued at $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,317 shares of company stock valued at $2,884,902 in the last ninety days. Corporate insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Principal Financial Group in the 1st quarter valued at about $244,000. NewEdge Advisors LLC grew its holdings in Principal Financial Group by 24.1% during the first quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock worth $633,000 after acquiring an additional 1,455 shares during the period. Empowered Funds LLC grew its holdings in Principal Financial Group by 11.9% during the first quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after acquiring an additional 497 shares during the period. EverSource Wealth Advisors LLC raised its position in Principal Financial Group by 96.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock valued at $181,000 after acquiring an additional 1,117 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Principal Financial Group by 9.1% during the second quarter. Cerity Partners LLC now owns 37,957 shares of the company’s stock valued at $3,015,000 after acquiring an additional 3,175 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

About Principal Financial Group

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.