Principal Financial Group (NYSE:PFG) Stock Rating Upgraded by Raymond James

Principal Financial Group (NYSE:PFG) was upgraded by equities research analysts at Raymond James from a “market perform” rating to a “strong-buy” rating in a report released on Tuesday, Marketbeat.com reports. The firm presently has a $99.00 target price on the stock. Raymond James’ price target indicates a potential upside of 21.40% from the company’s current price.

Several other research firms also recently weighed in on PFG. Piper Sandler raised their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company decreased their price target on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $88.00 to $96.00 in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $84.09.

Principal Financial Group Stock Up 0.8 %

Shares of NYSE PFG opened at $81.55 on Tuesday. The stock has a 50-day moving average price of $80.73 and a two-hundred day moving average price of $80.60. Principal Financial Group has a 12 month low of $66.21 and a 12 month high of $86.79. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The company has a market cap of $19.11 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.85 and a beta of 1.21.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. As a group, analysts forecast that Principal Financial Group will post 7.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Principal Financial Group

Several large investors have recently added to or reduced their stakes in PFG. Norges Bank bought a new position in shares of Principal Financial Group during the 4th quarter worth approximately $253,990,000. RIA Advisory Group LLC boosted its stake in Principal Financial Group by 35,473.1% during the fourth quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after acquiring an additional 1,076,964 shares in the last quarter. Wellington Management Group LLP boosted its stake in Principal Financial Group by 15.0% during the third quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in Principal Financial Group by 2,594.0% in the fourth quarter. Pinebridge Investments L.P. now owns 575,986 shares of the company’s stock worth $45,313,000 after purchasing an additional 554,606 shares during the period. Finally, Trust Point Inc. bought a new stake in Principal Financial Group in the fourth quarter valued at $30,290,000. 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.