Principal Financial Group (NYSE:PFG) Upgraded at Morgan Stanley

Principal Financial Group (NYSE:PFG - Get Free Report) was upgraded by equities research analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a $81.00 price objective on the stock. Morgan Stanley's price objective would suggest a potential upside of 2.35% from the stock's previous close.

Several other equities analysts have also issued reports on the company. Barclays increased their target price on Principal Financial Group from $80.00 to $83.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group lifted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Evercore ISI lifted their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an "in-line" rating in a report on Thursday, October 9th. Finally, Piper Sandler set a $94.00 price target on shares of Principal Financial Group and gave the company an "overweight" rating in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $88.70.

Principal Financial Group Stock Down 0.3%

Principal Financial Group stock opened at $79.14 on Thursday. Principal Financial Group has a fifty-two week low of $68.39 and a fifty-two week high of $90.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a 50 day moving average price of $80.84 and a 200 day moving average price of $78.51. The company has a market capitalization of $17.63 billion, a PE ratio of 11.85, a price-to-earnings-growth 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 EPS for the quarter, topping 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 quarter last year, the company earned $1.63 earnings per share. Research analysts expect that Principal Financial Group will post 8.5 earnings per share for the current year.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. lifted its stake in Principal Financial Group by 3.6% during the third quarter. D.A. Davidson & CO. now owns 13,716 shares of the company's stock worth $1,137,000 after purchasing an additional 478 shares during the last quarter. GoalVest Advisory LLC grew its position in shares of Principal Financial Group by 8.7% in the 3rd quarter. GoalVest Advisory LLC now owns 24,247 shares of the company's stock valued at $2,010,000 after buying an additional 1,941 shares during the last quarter. Centennial Wealth Advisory LLC boosted its stake in Principal Financial Group by 11.1% in the third quarter. Centennial Wealth Advisory LLC now owns 5,759 shares of the company's stock valued at $478,000 after acquiring an additional 576 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Principal Financial Group by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 95,736 shares of the company's stock valued at $7,937,000 after acquiring an additional 332 shares in the last quarter. Finally, Financial Consulate Inc. acquired a new position in Principal Financial Group in the third quarter valued at $46,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

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.

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