Principal Financial Group (NASDAQ:PFG) Price Target Cut to $106.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Principal Financial Group’s price target to $106 from $107 while maintaining a “neutral” rating, implying about 1.51% downside from the reported share price.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $108.75 based on three Buy, six Hold, and three Sell ratings.
• Principal reported quarterly EPS of $2.50, exceeding the $2.33 consensus estimate, while revenue of $3.91 billion fell short of expectations. Institutional investors own approximately 75.08% of the company.

Principal Financial Group (NASDAQ:PFG - Get Free Report) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $107.00 to $106.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 1.51% from the company's current price.

A number of other equities research analysts also recently commented on the company. UBS Group upped their price objective on Principal Financial Group from $98.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, September 10th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $115.00 to $113.00 and set an "equal weight" rating for the company in a report on Monday. Jefferies Financial Group raised their price target on Principal Financial Group from $91.00 to $98.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Raymond James Financial reiterated an "outperform" rating and issued a $121.00 target price on shares of Principal Financial Group in a research note on Monday, August 17th. Finally, Bank of America lifted their price target on Principal Financial Group from $94.00 to $104.00 and gave the stock an "underperform" rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $108.75.

Principal Financial Group Price Performance

PFG traded up $0.37 during midday trading on Thursday, hitting $107.63. The company had a trading volume of 222,489 shares, compared to its average volume of 1,453,802. Principal Financial Group has a twelve month low of $77.90 and a twelve month high of $121.18. The firm's 50-day simple moving average is $113.04 and its 200-day simple moving average is $107.26. The company has a market capitalization of $23.04 billion, a PE ratio of 15.28, a P/E/G ratio of 1.02 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. The firm had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter in the previous year, the company posted $2.16 EPS. Equities research analysts predict that Principal Financial Group will post 9.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC bought a new stake in Principal Financial Group in the second quarter worth $27,000. Valley Wealth Managers Inc. purchased a new position in shares of Principal Financial Group in the first quarter worth about $27,000. MBM Wealth Consultants LLC bought a new stake in shares of Principal Financial Group in the 1st quarter valued at about $28,000. Bell Investment Advisors Inc bought a new stake in shares of Principal Financial Group in the 2nd quarter valued at about $38,000. Finally, Signature Equity Partners LLC boosted its holdings in Principal Financial Group by 5,733.3% during the 1st quarter. Signature Equity Partners LLC now owns 350 shares of the company's stock valued at $32,000 after acquiring an additional 344 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

About Principal Financial Group

Principal Financial Group, Inc is a global financial services company headquartered in Des Moines, Iowa. Founded in 1879, the company provides retirement, investment, insurance and financial wellness solutions to individuals, businesses and institutional clients.

Its offerings include employer-sponsored retirement plans, individual retirement accounts, pension and income solutions, group benefits, life insurance and specialty benefits. Through its investment management operations, Principal also provides asset management and related services to retirement plans, institutions and individual investors.

Principal Financial Group serves customers in the United States and selected international markets, including countries in Latin America and Asia.

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