Principal Financial Group (NASDAQ:PFG) had its price objective raised by research analysts at Morgan Stanley from $55.00 to $60.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 0.74% from the stock's previous close.
Several other brokerages also recently issued reports on PFG. Piper Sandler upped their price objective on shares of Principal Financial Group from $48.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, November 20th. Royal Bank of Canada reaffirmed a "hold" rating and issued a $52.00 price target on shares of Principal Financial Group in a research note on Sunday, January 31st. Zacks Investment Research upgraded Principal Financial Group from a "sell" rating to a "hold" rating and set a $55.00 target price for the company in a research report on Thursday, January 14th. Barclays lifted their price target on Principal Financial Group from $54.00 to $60.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, TheStreet upgraded Principal Financial Group from a "c+" rating to a "b" rating in a report on Thursday, January 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of "Hold" and a consensus target price of $51.89.
PFG opened at $60.45 on Thursday. The firm's fifty day moving average price is $53.09 and its 200 day moving average price is $48.68. The stock has a market capitalization of $16.48 billion, a PE ratio of 13.71, a P/E/G ratio of 1.18 and a beta of 1.64. Principal Financial Group has a 12-month low of $23.31 and a 12-month high of $60.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.07 and a quick ratio of 0.07.
Principal Financial Group (NASDAQ:PFG) last posted its earnings results on Thursday, January 28th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.43 by $0.05. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.93 billion. Principal Financial Group had a return on equity of 9.22% and a net margin of 8.15%. During the same period in the prior year, the company earned $1.41 earnings per share. On average, equities research analysts forecast that Principal Financial Group will post 4.89 earnings per share for the current fiscal year.
In other news, EVP Julia M. Lawler sold 1,000 shares of the company's stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $50.00, for a total value of $50,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Deanna D. Strable-Soethout sold 19,160 shares of the company's stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $51.00, for a total transaction of $977,160.00. The disclosure for this sale can be found here. Insiders sold a total of 29,664 shares of company stock worth $1,535,510 in the last quarter. 1.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Wetherby Asset Management Inc. lifted its position in shares of Principal Financial Group by 2.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 7,634 shares of the company's stock worth $379,000 after buying an additional 186 shares during the last quarter. Berman Capital Advisors LLC lifted its holdings in Principal Financial Group by 6.3% in the 4th quarter. Berman Capital Advisors LLC now owns 3,198 shares of the company's stock worth $158,000 after purchasing an additional 190 shares during the last quarter. AdvisorNet Financial Inc boosted its position in Principal Financial Group by 12.0% during the fourth quarter. AdvisorNet Financial Inc now owns 2,001 shares of the company's stock worth $99,000 after purchasing an additional 214 shares during the period. Signaturefd LLC raised its position in shares of Principal Financial Group by 12.4% in the fourth quarter. Signaturefd LLC now owns 2,164 shares of the company's stock valued at $107,000 after purchasing an additional 239 shares during the period. Finally, Burney Co. boosted its holdings in shares of Principal Financial Group by 1.2% during the 4th quarter. Burney Co. now owns 19,503 shares of the company's stock worth $968,000 after buying an additional 240 shares during the period. 69.09% of the stock is 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 in Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
Further Reading: Percentage Decliners
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