Barclays Increases Principal Financial Group (NYSE:PFG) Price Target to $80.00

Principal Financial Group (NYSE:PFG - Get Free Report) had its price objective hoisted by stock analysts at Barclays from $76.00 to $80.00 in a report issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's price target suggests a potential downside of 0.24% from the company's previous close.

Other analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a report on Monday, May 19th. Piper Sandler upped their target price on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price objective on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Finally, UBS Group dropped their price objective on 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.69.

Principal Financial Group Price Performance

Shares of NYSE:PFG traded down $0.81 during trading on Monday, reaching $80.19. 1,190,191 shares of the company traded hands, compared to its average volume of 1,324,456. The company's 50 day moving average is $77.98 and its two-hundred day moving average is $79.66. The firm has a market capitalization of $17.98 billion, a PE ratio of 12.00, a PEG ratio of 0.76 and a beta of 0.99. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 52 week low of $68.39 and a 52 week high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the prior year, the firm posted $1.65 EPS. As a group, sell-side analysts predict that Principal Financial Group will post 8.5 earnings per share for the current year.

Hedge Funds Weigh In On Principal Financial Group

Large investors have recently bought and sold shares of the company. Tompkins Financial Corp bought a new position in Principal Financial Group in the 1st quarter valued at approximately $55,000. SG Americas Securities LLC bought a new position in Principal Financial Group in the 1st quarter valued at approximately $943,000. Sumitomo Mitsui Trust Group Inc. raised its stake 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 valued at $44,433,000 after acquiring an additional 13,483 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Principal Financial Group by 2,064.3% during the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after acquiring an additional 141,447 shares during the last quarter. Finally, Vest Financial LLC bought a new position in shares of Principal Financial Group during the first quarter valued at $787,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Company Profile

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.