Principal Financial Group (NYSE:PFG) Price Target Raised to $71.00 at Morgan Stanley

Principal Financial Group (NYSE:PFG) had its price target raised by investment analysts at Morgan Stanley from $67.00 to $71.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 11.83% from the stock’s current price.

PFG has been the topic of a number of other research reports. BMO Capital Markets began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price on the stock. Barclays cut their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. UBS Group dropped their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.85.

Principal Financial Group Trading Down 0.9%

NYSE PFG opened at $80.53 on Monday. 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 50-day moving average price of $78.06 and a 200 day moving average price of $81.07. Principal Financial Group has a 52-week low of $68.39 and a 52-week high of $91.98. The stock has a market capitalization of $18.05 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the firm earned $1.65 EPS. Equities research analysts expect that Principal Financial Group will post 8.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PFG. Belpointe Asset Management LLC boosted its stake in shares of Principal Financial Group by 17.0% in the 1st quarter. Belpointe Asset Management LLC now owns 4,726 shares of the company’s stock valued at $399,000 after purchasing an additional 686 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Principal Financial Group by 559.8% in the 1st quarter. Focus Partners Wealth now owns 73,302 shares of the company’s stock valued at $6,185,000 after purchasing an additional 62,193 shares during the last quarter. Flaharty Asset Management LLC bought a new position in shares of Principal Financial Group in the 1st quarter valued at about $51,000. Integrity Alliance LLC. bought a new position in shares of Principal Financial Group in the 1st quarter valued at about $470,000. Finally, Empowered Funds LLC boosted its stake in shares of Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock valued at $395,000 after purchasing an additional 497 shares during 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.