Principal Financial Group (NYSE:PFG) Given New $93.00 Price Target at UBS Group

Principal Financial Group (NYSE:PFG) had its target price hoisted by stock analysts at UBS Group from $87.00 to $93.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 8.48% from the stock’s current price.

PFG has been the subject of a number of other reports. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. Barclays boosted their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $86.57.

Principal Financial Group Stock Performance

Shares of PFG traded up $0.58 during mid-day trading on Wednesday, reaching $85.73. 155,592 shares of the company’s stock were exchanged, compared to its average volume of 1,216,593. The business’s fifty day simple moving average is $84.26 and its 200-day simple moving average is $83.75. The stock has a market capitalization of $19.34 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Principal Financial Group has a 52-week low of $72.21 and a 52-week high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Principal Financial Group during the fourth quarter valued at $217,021,000. Deutsche Bank AG lifted its position in Principal Financial Group by 73.5% in the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company’s stock valued at $114,726,000 after purchasing an additional 627,865 shares during the last quarter. Woodline Partners LP acquired a new position in Principal Financial Group during the 4th quarter valued at about $28,448,000. Northern Trust Corp grew its position in Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock worth $283,546,000 after purchasing an additional 326,604 shares during the last quarter. Finally, Amundi increased its stake in shares of Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after purchasing an additional 264,383 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

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.