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

Key Points

• UBS raised its price target on Principal Financial Group to $94 (from $92) while keeping a "neutral" rating, and the stock's consensus remains a Hold with an average target of $94.33 (2 Buys, 7 Holds, 1 Sell).
• Shares traded at $92.21 with a market cap of about $19.98B, a PE of 17.5 and a 52‑week range of $69.80–$97.88; the company posted $2.20 EPS on $4.58B revenue last quarter and CEO Deanna Strable‑Soethout sold 9,300 shares (insiders own 1.08%).

Principal Financial Group (NASDAQ:PFG - Get Free Report) had its price target raised by UBS Group from $92.00 to $94.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price would suggest a potential upside of 1.94% from the stock's current price.

A number of other analysts have also commented on the company. Piper Sandler increased their price objective on Principal Financial Group from $94.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, December 23rd. Barclays decreased their price objective on Principal Financial Group from $85.00 to $84.00 and set an "underweight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $103.00 price objective on shares of Principal Financial Group in a research note on Monday, January 5th. Morgan Stanley increased their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company raised Principal Financial Group from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $85.00 to $91.00 in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given 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 price target of $94.33.

Principal Financial Group Price Performance

NASDAQ:PFG traded down $1.99 during trading hours on Thursday, hitting $92.21. The company's stock had a trading volume of 1,166,694 shares, compared to its average volume of 1,683,995. The business's 50-day moving average is $91.52 and its two-hundred day moving average is $87.70. The company has a market capitalization of $19.98 billion, a PE ratio of 17.50, a PEG ratio of 0.83 and a beta of 0.87. 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 $69.80 and a 52-week high of $97.88.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The firm had revenue of $4.58 billion during the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Insider Activity at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the firm's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares in the company, valued at $13,713,260.16. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 24,665 shares of company stock valued at $2,324,710. Company insiders own 1.08% of the company's stock.

Institutional Investors Weigh In On Principal Financial Group

Hedge funds have recently modified their holdings of the stock. Capital Management Corp VA increased its holdings in shares of Principal Financial Group by 19.2% in the 3rd quarter. Capital Management Corp VA now owns 172,736 shares of the company's stock worth $14,322,000 after purchasing an additional 27,857 shares in the last quarter. Nordea Investment Management AB raised its stake in Principal Financial Group by 160.3% during the 3rd quarter. Nordea Investment Management AB now owns 48,902 shares of the company's stock valued at $3,978,000 after buying an additional 30,118 shares during the last quarter. Mediolanum International Funds Ltd raised its stake in Principal Financial Group by 41.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company's stock valued at $10,504,000 after buying an additional 37,357 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Principal Financial Group during the 3rd quarter valued at $18,526,000. Finally, Assenagon Asset Management S.A. raised its stake in Principal Financial Group by 1,048.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 697,735 shares of the company's stock valued at $57,849,000 after buying an additional 637,001 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other 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.

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