Principal Financial Group (NASDAQ:PFG) Stock Price Target Cut by Piper Sandler

Key Points

• Piper Sandler cut Principal Financial Group’s price target from $128 to $125 while maintaining an “overweight” rating, implying approximately 11.66% upside from the stock’s $111.95 price.
• Analyst sentiment is mixed: MarketBeat reports a consensus “Hold” rating and an average price target of $107.75, based on three Buy, six Hold, and three Sell ratings.
• Principal Financial Group missed quarterly expectations, reporting adjusted earnings of $2.22 per share versus the $2.46 consensus estimate and revenue of $4.28 billion versus $4.31 billion expected.

Principal Financial Group (NASDAQ:PFG - Get Free Report) had its price objective decreased by stock analysts at Piper Sandler from $128.00 to $125.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 11.66% from the stock's current price.

A number of other equities analysts have also issued reports on the company. Barclays lowered their price target on Principal Financial Group from $92.00 to $86.00 and set an "underweight" rating on the stock in a report on Wednesday, October 7th. JPMorgan Chase & Co. lowered their target price on Principal Financial Group from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Thursday, October 15th. Atlantic Securities set a $94.00 target price on Principal Financial Group in a report on Wednesday, July 15th. Jefferies Financial Group upped 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, Raymond James Financial reaffirmed an "outperform" rating and set a $121.00 price target on shares of Principal Financial Group in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $107.75.

Principal Financial Group Stock Down 0.0%

NASDAQ PFG traded down $0.03 during trading on Wednesday, hitting $111.95. The stock had a trading volume of 266,555 shares, compared to its average volume of 1,449,280. Principal Financial Group has a twelve month low of $80.00 and a twelve month high of $121.18. The firm has a 50 day moving average price of $112.12 and a 200 day moving average price of $103.15. The company has a market capitalization of $23.97 billion, a PE ratio of 12.43 and a beta of 0.86.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.46 by ($0.24). The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business posted $2.32 earnings per share. On average, sell-side analysts anticipate that Principal Financial Group will post 9.44 earnings per share for the current year.

Institutional Trading of Principal Financial Group

Hedge funds have recently modified their holdings of the business. Ancora Advisors LLC acquired a new stake in Principal Financial Group in the second quarter valued at $27,000. Valley Wealth Managers Inc. purchased a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $27,000. Bell Investment Advisors Inc acquired a new position in Principal Financial Group during the second quarter worth $38,000. Signature Equity Partners LLC boosted its position in Principal Financial Group by 5,733.3% during the first quarter. Signature Equity Partners LLC now owns 350 shares of the company's stock worth $32,000 after purchasing an additional 344 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Principal Financial Group in the second quarter valued at $41,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Company Profile

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.

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