Wells Fargo & Company Lowers Principal Financial Group (NYSE:PFG) Price Target to $68.00

Principal Financial Group (NYSE:PFG) had its price target cut by equities research analysts at Wells Fargo & Company from $74.00 to $68.00 in a report released on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 6.35% from the stock’s previous close.

PFG has been the subject of a number of other research reports. UBS Group upped their target price on shares of Principal Financial Group from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 2nd. Barclays upped their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Piper Sandler increased their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley lowered their price objective on Principal Financial Group from $77.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.69.

Principal Financial Group Stock Performance

Shares of NYSE:PFG opened at $72.61 on Thursday. 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 has a 1 year low of $68.39 and a 1 year high of $91.98. The firm has a market capitalization of $16.38 billion, a PE ratio of 10.87, a P/E/G ratio of 0.76 and a beta of 1.01. The business’s 50 day moving average price is $82.79 and its 200-day moving average price is $83.08.

Institutional Trading of Principal Financial Group

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at about $212,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Principal Financial Group during the third quarter worth approximately $619,000. Orion Portfolio Solutions LLC acquired a new stake in Principal Financial Group in the third quarter valued at approximately $240,000. Nomura Asset Management Co. Ltd. lifted its stake in Principal Financial Group by 0.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 100,935 shares of the company’s stock worth $8,670,000 after acquiring an additional 598 shares during the last quarter. Finally, Barclays PLC grew its holdings in Principal Financial Group by 12.3% during the 3rd quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after acquiring an additional 88,179 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.