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 to $112 from $107, while keeping an equal weight rating on the stock.
• Analyst views remain mixed overall: the stock has an average Hold rating and a consensus target price of $101.40, even as some firms recently lifted targets while others downgraded or maintained bearish ratings.
• Principal Financial Group recently reported Q1 earnings of $2.07 per share, beating estimates, and the stock was trading near its 52-week high at $111.86 on Monday.

Principal Financial Group (NASDAQ:PFG - Get Free Report) had its price objective increased by Morgan Stanley from $107.00 to $112.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price objective would suggest a potential upside of 0.12% from the company's previous close.

Several other brokerages also recently commented on PFG. Citigroup downgraded shares of Principal Financial Group from a "sell" rating to an "underperform" rating in a report on Wednesday, June 24th. UBS Group raised their price objective 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. Piper Sandler upped their target price on Principal Financial Group from $113.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, June 24th. Bank of America reiterated an "underperform" rating and set a $95.00 target price (down from $98.00) on shares of Principal Financial Group in a research note on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods reissued a "hold" rating and set a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average target price of $101.40.

Principal Financial Group Stock Performance

Principal Financial Group stock traded up $0.99 during midday trading on Monday, reaching $111.86. 80,040 shares of the company's stock were exchanged, compared to its average volume of 1,506,652. The stock's 50-day simple moving average is $104.72 and its 200 day simple moving average is $96.07. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.11 and a beta of 0.88. 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 has a 52 week low of $75.00 and a 52 week high of $112.45.

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

Insider Activity at Principal Financial Group

In other news, insider Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $101.26, for a total value of $929,870.58. Following the completion of the sale, the insider directly owned 77,188 shares in the company, valued at approximately $7,816,056.88. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel George Djurasovic sold 2,571 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the sale, the general counsel owned 21,906 shares of the company's stock, valued at approximately $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. Insiders have sold 28,317 shares of company stock worth $2,884,902 over the last ninety days. Insiders own 1.13% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. FAS Wealth Partners Inc. grew its stake in Principal Financial Group by 4.9% during the first quarter. FAS Wealth Partners Inc. now owns 38,722 shares of the company's stock worth $3,489,000 after buying an additional 1,812 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Principal Financial Group by 3.2% in the 1st quarter. NewEdge Advisors LLC now owns 12,439 shares of the company's stock valued at $1,121,000 after buying an additional 384 shares in the last quarter. First Nebraska Trust Co acquired a new position in shares of Principal Financial Group in the 1st quarter valued at approximately $223,000. Groupe la Francaise lifted its holdings in shares of Principal Financial Group by 8.2% during the 1st quarter. Groupe la Francaise now owns 48,995 shares of the company's stock worth $4,415,000 after acquiring an additional 3,716 shares during the period. Finally, Western Wealth Management LLC bought a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $40,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Company Profile

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.