Morgan Stanley Issues Positive Forecast for Principal Financial Group (NYSE:PFG) Stock Price

Key Points

• Morgan Stanley has raised its price target for Principal Financial Group from $77.00 to $80.00, suggesting a potential downside of 4.58% based on the stock's previous close.
• JPMorgan Chase & Co. and Piper Sandler have increased their price targets to $101.00 and $89.00 respectively, with the latter rating the stock as "overweight."
• The company's latest quarterly earnings report showed $2.16 earnings per share, surpassing expectations by $0.19 while projecting an EPS of 8.5 for the current fiscal year.

Principal Financial Group (NYSE:PFG - Get Free Report) had its price target raised by equities research analysts at Morgan Stanley from $77.00 to $80.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Morgan Stanley's price target would indicate a potential downside of 4.58% from the company's previous close.

PFG has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler lifted their target price on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. UBS Group increased their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Barclays raised their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $87.20.

Principal Financial Group Stock Performance

Shares of PFG traded down $0.34 during midday trading on Tuesday, hitting $83.84. 151,046 shares of the stock traded hands, compared to its average volume of 1,366,484. The business's 50 day moving average price is $80.03 and its two-hundred day moving average price is $78.69. The firm has a market capitalization of $18.68 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group has a 1-year low of $68.39 and a 1-year high of $91.97.

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

Hedge Funds Weigh In On Principal Financial Group

Several large investors have recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $25,000. Traub Capital Management LLC bought a new stake in Principal Financial Group during the second quarter worth approximately $26,000. Capital A Wealth Management LLC grew its position in 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 buying an additional 332 shares during the last quarter. American National Bank & Trust bought a new position in shares of Principal Financial Group in the second quarter valued at $28,000. Finally, Curio Wealth LLC lifted its position in shares of Principal Financial Group by 37,800.0% during the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company's stock valued at $30,000 after acquiring an additional 378 shares during the last quarter. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Company Profile

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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