Principal Financial Group (NYSE:PFG) Price Target Raised to $73.00 at Wells Fargo & Company

Principal Financial Group (NYSE:PFG - Get Free Report) had its target price increased by Wells Fargo & Company from $69.00 to $73.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential downside of 10.54% from the stock's current price.

Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research note on Tuesday. Piper Sandler upped their price target on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Barclays increased their price objective on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research note on Monday. Morgan Stanley lifted their target price on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. Finally, UBS Group reduced their price target on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.75.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded up $0.74 during midday trading on Thursday, reaching $81.60. 897,914 shares of the company traded hands, compared to its average volume of 1,321,634. Principal Financial Group has a 52 week low of $68.39 and a 52 week high of $91.98. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.76 and a beta of 0.99. The stock has a 50-day moving average price of $78.26 and a 200 day moving average price of $79.68. 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 earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the business earned $1.65 EPS. Sell-side analysts anticipate that Principal Financial Group will post 8.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors have recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group bought a new position in Principal Financial Group during the 2nd quarter worth about $25,000. Swedbank AB grew its holdings in shares of Principal Financial Group by 21.7% during the second quarter. Swedbank AB now owns 197,386 shares of the company's stock worth $15,678,000 after buying an additional 35,228 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in Principal Financial Group by 102.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,355 shares of the company's stock valued at $425,000 after buying an additional 2,708 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Principal Financial Group by 3.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,037 shares of the company's stock valued at $1,989,000 after acquiring an additional 814 shares in the last quarter. Finally, Signal Advisors Wealth LLC acquired a new position in Principal Financial Group during the 2nd quarter worth approximately $208,000. 75.08% of the stock is owned by institutional investors.

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.