Principal Financial Group (NYSE:PFG) Price Target Raised to $82.00 at Morgan Stanley

Principal Financial Group (NYSE:PFG - Get Free Report) had its price objective increased by equities researchers at Morgan Stanley from $81.00 to $82.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 3.89% from the stock's current price.

A number of other brokerages also recently weighed in on PFG. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an "equal weight" rating in a report on Thursday. Royal Bank of Canada increased their price target on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a "sector perform" rating in a report on Wednesday, February 14th. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, April 5th. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. Finally, Evercore ISI increased their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an "in-line" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $80.64.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded down $0.89 during trading hours on Monday, hitting $78.93. 855,740 shares of the stock were exchanged, compared to its average volume of 1,152,903. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. The company's 50 day moving average is $81.56 and its 200 day moving average is $76.90. The firm has a market capitalization of $18.56 billion, a P/E ratio of 32.22, a P/E/G ratio of 0.98 and a beta of 1.25. Principal Financial Group has a one year low of $65.17 and a one year high of $86.79.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, February 12th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the firm earned $1.70 EPS. On average, research analysts expect that Principal Financial Group will post 7.6 EPS for the current year.

Principal Financial Group announced that its Board of Directors has initiated a share repurchase program on Monday, February 12th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to buy up to 7.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Principal Financial Group

A number of hedge funds have recently made changes to their positions in PFG. GHP Investment Advisors Inc. increased its position in shares of Principal Financial Group by 143.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 384 shares of the company's stock worth $27,000 after purchasing an additional 226 shares in the last quarter. Spire Wealth Management increased its position in Principal Financial Group by 152.0% in the 4th quarter. Spire Wealth Management now owns 373 shares of the company's stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. ICA Group Wealth Management LLC increased its position in Principal Financial Group by 100.0% in the 1st quarter. ICA Group Wealth Management LLC now owns 400 shares of the company's stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $31,000. Finally, Fortis Group Advisors LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 75.08% of the company's stock.

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.