Principal Financial Group (NYSE:PFG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company raised its target price for Principal Financial Group from $72.00 to $73.00, yet maintains an "underweight" rating due to a projected downside of 12.24% from the stock's previous close.
• Analysts' estimates for the company show a consensus target price of $88.10, with varied ratings: two analysts have a Buy rating, five a Hold rating, and three a Sell rating.
• Principal Financial Group recently reported earnings of $2.16 per share, exceeding analyst expectations, and shows a strong return on equity of 14.68%.

Principal Financial Group (NYSE:PFG - Get Free Report) had its target price raised by analysts at Wells Fargo & Company from $72.00 to $73.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 12.24% from the stock's previous close.

Several other research analysts have also weighed in on PFG. UBS Group upped their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler set a $94.00 target price on shares of Principal Financial Group and gave the stock an "overweight" rating in a research report on Tuesday. Morgan Stanley boosted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Reduce" and a consensus target price of $88.10.

Principal Financial Group Trading Down 0.5%

Shares of PFG stock traded down $0.39 during trading hours on Wednesday, reaching $83.18. 212,351 shares of the stock traded hands, compared to its average volume of 1,363,399. Principal Financial Group has a 1-year low of $68.39 and a 1-year high of $91.97. The business has a fifty day moving average price of $80.09 and a 200 day moving average price of $78.73. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $18.53 billion, a PE ratio of 12.45, a PEG ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $0.19. 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 company earned $1.63 EPS. On average, equities research analysts forecast that Principal Financial Group will post 8.5 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

A number of hedge funds have recently made changes to their positions in PFG. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $25,000. Traub Capital Management LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $26,000. Capital A Wealth Management LLC increased its position in shares of Principal Financial Group by 5,533.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company's stock worth $27,000 after purchasing an additional 332 shares in the last quarter. American National Bank & Trust acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth about $28,000. Finally, Curio Wealth LLC increased its position in shares of Principal Financial Group by 37,800.0% during the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company's stock worth $30,000 after purchasing an additional 378 shares in the last quarter. Institutional investors and hedge funds 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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