Principal Financial Group (NASDAQ:PFG) Price Target Raised to $112.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on Principal Financial Group to $112 from $102, while keeping a market perform rating. The new target still implies a slight downside from the stock’s prior close.
• Other analysts have also adjusted their views, with targets ranging from $95 to $114; overall, the stock carries a consensus Hold rating and an average price target of $105.82.
• Principal Financial Group recently reported Q1 earnings of $2.07 per share, beating estimates, and the stock was trading near its 52-week high after opening at $113.64.

Principal Financial Group (NASDAQ:PFG - Get Free Report) had its price target upped by investment analysts at Keefe, Bruyette & Woods from $102.00 to $112.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective suggests a potential downside of 1.45% from the stock's previous close.

A number of other research firms also recently weighed in on PFG. Evercore set a $108.00 price target on shares of Principal Financial Group in a report on Monday, April 27th. Weiss Ratings cut shares of Principal Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 1st. Wells Fargo & Company increased their target price on shares of Principal Financial Group from $100.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Thursday. Jefferies Financial Group boosted their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Bank of America reiterated an "underperform" rating and set a $95.00 price target (down from $98.00) on shares of Principal Financial Group in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $105.82.

Principal Financial Group Trading Up 1.3%

Shares of NASDAQ PFG opened at $113.64 on Monday. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.12 and a beta of 0.88. The business has a 50 day simple moving average of $106.00 and a 200 day simple moving average of $96.87. Principal Financial Group has a 52 week low of $75.00 and a 52 week high of $113.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same quarter last year, the firm earned $1.81 earnings per share. On average, research analysts predict that Principal Financial Group will post 9.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Principal Financial Group

In other news, General Counsel George Djurasovic sold 2,571 shares of the business's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel owned 21,906 shares in the company, valued at approximately $2,208,781.98. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wee Yee Cheong sold 9,183 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider directly owned 77,188 shares of the company's stock, valued at $7,816,056.88. This represents a 10.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 28,317 shares of company stock valued at $2,884,902. Corporate insiders own 1.13% of the company's stock.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Principal Financial Group in the fourth quarter valued at $26,000. Hilton Head Capital Partners LLC bought a new position in Principal Financial Group in the fourth quarter worth $26,000. Valley Wealth Managers Inc. acquired a new stake in Principal Financial Group during the first quarter worth $27,000. Finally, MBM Wealth Consultants LLC acquired a new stake in Principal Financial Group during the first quarter worth $28,000. 75.08% of the stock is currently owned by institutional investors.

About Principal Financial Group

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.