Principal Financial Group (NASDAQ:PFG) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Key Points

• Morgan Stanley raised its price target on Principal Financial Group from $95 to $107, though it kept an “equal weight” rating. The new target implies about 3.63% upside from the prior close.
• Principal Financial Group’s shares were up 0.4% to $103.25, near the stock’s 52-week high of $103.44. The company also trades above its 50-day and 200-day moving averages.
• The company recently reported better-than-expected EPS of $2.07 versus the $2.01 consensus, while revenue came in below estimates. Analysts currently have a consensus Hold rating with a $98.10 average price target.

Principal Financial Group (NASDAQ:PFG - Get Free Report) had its price objective raised by Morgan Stanley from $95.00 to $107.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 3.63% from the stock's previous close.

PFG has been the subject of a number of other research reports. Bank of America reduced their price target on Principal Financial Group from $96.00 to $92.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Barclays lifted their price objective on Principal Financial Group from $85.00 to $87.00 and gave the stock an "underweight" rating in a report on Friday, April 24th. Wells Fargo & Company cut their target price on Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. Evercore set a $108.00 target price on Principal Financial Group in a research note on Monday, April 27th. Finally, UBS Group raised their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Principal Financial Group has a consensus rating of "Hold" and a consensus price target of $98.10.

Principal Financial Group Stock Up 0.4%

PFG traded up $0.44 during trading hours on Thursday, reaching $103.25. 63,091 shares of the stock traded hands, compared to its average volume of 1,554,033. Principal Financial Group has a fifty-two week low of $75.00 and a fifty-two week high of $103.44. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The firm's fifty day simple moving average is $94.01 and its two-hundred day simple moving average is $91.09.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the business posted $1.81 EPS. As a group, analysts forecast that Principal Financial Group will post 9.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Wee Yee Cheong sold 9,183 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $101.26, for a total value of $929,870.58. Following the transaction, the insider directly owned 77,188 shares in the company, valued at approximately $7,816,056.88. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group 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 completion of the transaction, the general counsel directly owned 21,906 shares of the company's stock, valued at $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 17,572 shares of company stock valued at $1,776,769. 1.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Principal Financial Group

A number of large investors have recently bought and sold shares of the business. DV Equities LLC bought a new position in Principal Financial Group during the 4th quarter worth $25,000. Hilton Head Capital Partners LLC acquired a new position in shares of Principal Financial Group during the fourth quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Principal Financial Group during the fourth quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in shares of Principal Financial Group during the first quarter worth about $27,000. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Principal Financial Group in the 1st quarter worth about $28,000. Institutional investors own 75.08% of the company's stock.

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.

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