Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Key Points

• Keefe, Bruyette & Woods has raised its price target for Principal Financial Group (NYSE:PFG) from $88.00 to $90.00, indicating a potential upside of 9.16% from the company’s previous close.
• The stock is currently rated as "market perform," and a total of two analysts have given it a Buy rating, while six rated it Hold and three issued Sell ratings.
• Principal Financial Group recently reported earnings of $2.16 per share, exceeding analysts' expectations, and is projected to post 8.5 EPS for the current year.

Principal Financial Group (NYSE:PFG - Get Free Report) had its price objective upped by equities research analysts at Keefe, Bruyette & Woods from $88.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 9.16% from the company's previous close.

A number of other equities research analysts have also issued reports on the company. Evercore ISI increased their price target on Principal Financial Group from $92.00 to $94.00 and gave the company an "in-line" rating in a research report on Thursday. Barclays upped their price objective on Principal Financial Group from $80.00 to $83.00 and gave the company an "underweight" rating in a research report on Wednesday. Wells Fargo & Company increased their target price on Principal Financial Group from $72.00 to $73.00 and gave the company an "underweight" rating in a research note on Wednesday. UBS Group increased their target price on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of "Reduce" and a consensus target price of $88.82.

Principal Financial Group Stock Up 0.8%

Shares of PFG stock traded up $0.68 during trading hours on Thursday, reaching $82.45. 331,782 shares of the company's stock were exchanged, compared to its average volume of 1,363,488. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 1 year low of $68.39 and a 1 year high of $91.97. The stock has a market cap of $18.37 billion, a PE ratio of 12.34, a PEG ratio of 0.76 and a beta of 1.03. The stock's fifty day moving average price is $80.20 and its two-hundred day moving average price is $78.75.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the prior year, the firm earned $1.63 earnings per share. Research analysts predict that Principal Financial Group will post 8.5 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors have recently bought and sold shares of the stock. Oliver Lagore Vanvalin Investment Group bought a new position in Principal Financial Group during the second quarter valued at about $25,000. Traub Capital Management LLC bought a new position in shares of Principal Financial Group in the second quarter worth about $26,000. Capital A Wealth Management LLC increased its stake in shares of Principal Financial Group by 5,533.3% in the second quarter. Capital A Wealth Management LLC now owns 338 shares of the company's stock worth $27,000 after purchasing an additional 332 shares during the period. American National Bank & Trust bought a new position in shares of Principal Financial Group in the second quarter worth about $28,000. Finally, Curio Wealth LLC increased its stake in shares of Principal Financial Group by 37,800.0% in the second quarter. Curio Wealth LLC now owns 379 shares of the company's stock worth $30,000 after purchasing an additional 378 shares during the period. 75.08% of the stock is currently owned by institutional investors.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.

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