Principal Financial Group (NYSE:PFG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Principal Financial Group (NYSE:PFG) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $90.00 to $92.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 7.67% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a research report on Thursday, January 16th. BMO Capital Markets initiated 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 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.54.

Principal Financial Group Trading Up 1.3 %

Shares of PFG stock opened at $85.45 on Wednesday. Principal Financial Group has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The stock’s fifty day moving average price is $80.02 and its two-hundred day moving average price is $82.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $19.54 billion, a PE ratio of 12.79, a P/E/G ratio of 0.79 and a beta of 1.22.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock valued at $211,534,000 after purchasing an additional 118,722 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Principal Financial Group by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,507 shares of the company’s stock valued at $112,129,000 after purchasing an additional 44,818 shares during the last quarter. Amundi increased its position in shares of Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after buying an additional 264,383 shares during the period. Barclays PLC raised its stake in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company’s stock worth $69,293,000 after buying an additional 88,179 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in Principal Financial Group by 23.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 665,410 shares of the company’s stock worth $51,509,000 after buying an additional 125,198 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.