Morgan Stanley Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Key Points

• Morgan Stanley has raised its price target for Principal Financial Group (NYSE:PFG) from $75.00 to $77.00, maintaining an "underweight" rating, indicating a potential downside of 0.43% from the current stock price.
• Other analysts have varied opinions, with Piper Sandler setting a target of $89.00 and an "overweight" rating, while Wells Fargo has lowered its target to $72.00 with an "underweight" rating, reflecting differing views on the company's performance.
• Principal Financial Group reported earnings of $2.16 per share for the last quarter, surpassing analysts' expectations of $1.97, which showcases the company's ongoing financial strength.

Principal Financial Group (NYSE:PFG - Get Free Report) had its price target hoisted by research analysts at Morgan Stanley from $75.00 to $77.00 in a research report issued on Monday, Marketbeat Ratings reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price target would suggest a potential downside of 2.26% from the stock's previous close.

PFG has been the subject of a number of other reports. UBS Group upped their price objective on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods dropped their target price on 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. Wells Fargo & Company dropped their target price on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a report on Wednesday, July 30th. Barclays increased their target price 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, Piper Sandler increased their target price on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $86.90.

Principal Financial Group Stock Performance

Shares of NYSE:PFG traded up $1.0770 during midday trading on Monday, reaching $78.7770. 291,460 shares of the company traded hands, compared to its average volume of 1,408,292. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 12 month low of $68.39 and a 12 month high of $91.97. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The firm's fifty day moving average price is $78.49 and its two-hundred day moving average price is $79.49.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping 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 last year, the company posted $1.63 EPS. On average, equities analysts expect that Principal Financial Group will post 8.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tompkins Financial Corp bought a new position in shares of Principal Financial Group in the 1st quarter worth approximately $55,000. Blackhawk Capital Partners LLC. bought a new position in Principal Financial Group during the 1st quarter valued at approximately $281,000. SG Americas Securities LLC bought a new position in Principal Financial Group during the 1st quarter valued at approximately $943,000. Sumitomo Mitsui Trust Group Inc. increased its position in Principal Financial Group by 2.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company's stock valued at $44,433,000 after buying an additional 13,483 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Principal Financial Group by 802.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after buying an additional 3,296,608 shares in 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.