Principal Financial Group (PFG) Price Target Cut to $77.00 by Analysts at Morgan Stanley

Principal Financial Group (NYSE:PFG) had its target price reduced by equities researchers at Morgan Stanley from $79.00 to $77.00 in a note issued to investors on Thursday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 29.17% from the company’s current price.

A number of other analysts have also issued reports on PFG. Wells Fargo set a $79.00 price target on shares of Principal Financial Group and gave the stock a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $73.00 price target on shares of Principal Financial Group in a research note on Monday, December 11th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Thursday, January 4th. Goldman Sachs upgraded shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 9th. Finally, JPMorgan Chase upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and set a $70.00 target price on the stock in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $71.45.

How to Become a New Pot Stock Millionaire

Shares of NYSE:PFG opened at $59.61 on Thursday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group has a 1 year low of $57.62 and a 1 year high of $75.58.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.18). The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same quarter last year, the company earned $1.27 earnings per share. equities research analysts forecast that Principal Financial Group will post 5.22 earnings per share for the current year.

In other Principal Financial Group news, EVP Gary P. Scholten sold 24,310 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $71.59, for a total value of $1,740,352.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Luis E. Valdes sold 27,662 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $64.02, for a total transaction of $1,770,921.24. The disclosure for this sale can be found here. Insiders have sold 71,828 shares of company stock worth $4,941,303 over the last 90 days. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PFG. Massmutual Trust Co. FSB ADV increased its stake in Principal Financial Group by 5,561.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 5,661 shares of the financial services provider’s stock valued at $154,000 after purchasing an additional 5,561 shares during the last quarter. Resources Investment Advisors Inc. increased its stake in Principal Financial Group by 268.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 2,184 shares during the last quarter. Avestar Capital LLC purchased a new position in Principal Financial Group in the fourth quarter valued at approximately $169,000. Tower Research Capital LLC TRC purchased a new position in Principal Financial Group in the fourth quarter valued at approximately $174,000. Finally, Acadian Asset Management LLC increased its stake in Principal Financial Group by 215.0% in the fourth quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,782 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

WARNING: “Principal Financial Group (PFG) Price Target Cut to $77.00 by Analysts at Morgan Stanley” was published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.tickerreport.com/banking-finance/3336909/principal-financial-group-pfg-price-target-cut-to-77-00-by-analysts-at-morgan-stanley.html.

Principal Financial Group Company Profile

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Target  Raised to “Market Perform” at Wolfe Research
Target Raised to “Market Perform” at Wolfe Research
Avis Budget Group  Lifted to “Strong-Buy” at Zacks Investment Research
Avis Budget Group Lifted to “Strong-Buy” at Zacks Investment Research
Somewhat Favorable Media Coverage Somewhat Unlikely to Impact ArcBest  Stock Price
Somewhat Favorable Media Coverage Somewhat Unlikely to Impact ArcBest Stock Price
CEVA  Given Media Sentiment Score of 0.14
CEVA Given Media Sentiment Score of 0.14
Blackrock Global Opportunities  Receiving Favorable Media Coverage, Study Shows
Blackrock Global Opportunities Receiving Favorable Media Coverage, Study Shows
Contrasting Lowe's Companies  and Travis Perkins
Contrasting Lowe's Companies and Travis Perkins


Leave a Reply

© 2006-2018 Ticker Report. Google+.