Principal Financial Group (NYSE:PFG) Price Target Lowered to $88.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has lowered the price target for Principal Financial Group from $90.00 to $88.00, maintaining a "market perform" rating, which suggests a potential upside of 15.67% from the stock's previous close.
• The company had a strong quarterly earnings report, beating consensus estimates with $2.16 earnings per share compared to the expected $1.97.
• Principal Financial Group currently has a consensus price target of $86.70, supported by varying ratings from multiple analysts, including "sell," "hold," and "buy" ratings.

Principal Financial Group (NYSE:PFG - Get Free Report) had its target price lowered by stock analysts at Keefe, Bruyette & Woods from $90.00 to $88.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 15.67% from the stock's previous close.

PFG has been the subject of several other reports. Barclays raised their price objective on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Piper Sandler boosted their price target on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Wells Fargo & Company cut their price target on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a report on Wednesday, July 30th. Morgan Stanley reissued an "underweight" rating and issued a $75.00 price target (up from $71.00) on shares of Principal Financial Group in a report on Monday, July 14th. Finally, UBS Group upped their target price on Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $86.70.

Principal Financial Group Stock Performance

Shares of PFG stock traded up $0.55 during trading hours on Monday, reaching $76.08. 313,416 shares of the company's stock were exchanged, compared to its average volume of 1,421,745. The company has a market cap of $16.95 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company's 50 day moving average is $78.57 and its two-hundred day moving average is $79.91. Principal Financial Group has a 1 year low of $68.39 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the prior year, the company posted $1.63 earnings per share. Equities research analysts anticipate that Principal Financial Group will post 8.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PFG. Tompkins Financial Corp acquired a new stake in Principal Financial Group during the first quarter valued at approximately $55,000. Blackhawk Capital Partners LLC. purchased a new stake in shares of Principal Financial Group in the first quarter valued at $281,000. SG Americas Securities LLC purchased a new stake in shares of Principal Financial Group during the first quarter worth $943,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Principal Financial Group by 2.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company's stock worth $44,433,000 after acquiring an additional 13,483 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Principal Financial Group by 802.2% during the first quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock worth $312,805,000 after buying an additional 3,296,608 shares during the last quarter. Hedge funds and other institutional investors 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.

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