Principal Financial Group, Inc. (NYSE:PFG – Get Free Report) has earned a consensus recommendation of “Reduce” from the ten analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $75.00.
PFG has been the subject of several recent research reports. Evercore ISI upgraded Principal Financial Group from an “underperform” rating to an “inline” rating and lifted their price objective for the company from $82.00 to $83.00 in a report on Thursday, January 4th. Morgan Stanley upped their price objective on Principal Financial Group from $71.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 15th. Wells Fargo & Company dropped their price target on shares of Principal Financial Group from $78.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. Citigroup decreased their price objective on Principal Financial Group from $64.00 to $62.00 and set a “sell” rating on the stock in a report on Tuesday, October 24th. Finally, Piper Sandler reduced their price target on Principal Financial Group from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, October 30th.
Principal Financial Group Stock Down 0.4 %
Institutional Investors Weigh In On Principal Financial Group
Several large investors have recently modified their holdings of PFG. Morgan Stanley grew its holdings in Principal Financial Group by 67.3% in the fourth quarter. Morgan Stanley now owns 4,514,124 shares of the company’s stock valued at $378,825,000 after purchasing an additional 1,816,343 shares during the last quarter. RIA Advisory Group LLC grew its holdings in Principal Financial Group by 35,473.1% in the fourth quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock valued at $84,964,000 after purchasing an additional 1,076,964 shares during the last quarter. Norges Bank acquired a new stake in Principal Financial Group in the fourth quarter valued at $78,939,000. Royal Bank of Canada boosted its stake in shares of Principal Financial Group by 307.9% during the first quarter. Royal Bank of Canada now owns 1,133,674 shares of the company’s stock valued at $83,223,000 after acquiring an additional 855,747 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Principal Financial Group by 9.8% during the second quarter. Capital Research Global Investors now owns 9,149,111 shares of the company’s stock valued at $693,869,000 after acquiring an additional 813,139 shares during the last quarter. Hedge funds and other institutional investors own 70.68% 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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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