Wells Fargo & Company Lowers Principal Financial Group (NYSE:PFG) Price Target to $69.00

Principal Financial Group (NYSE:PFG) had its price target lowered by equities researchers at Wells Fargo & Company from $75.00 to $69.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 11.91% from the stock’s current price.

Several other analysts also recently weighed in on the company. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research note on Wednesday, December 18th. Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Bank of America decreased their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Four analysts have rated the stock with a sell rating, five have given 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, Principal Financial Group has an average rating of “Hold” and an average price target of $84.25.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded up $0.53 on Tuesday, hitting $78.33. The stock had a trading volume of 174,826 shares, compared to its average volume of 874,727. The company’s 50 day moving average price is $81.72 and its 200 day moving average price is $82.15. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $17.92 billion, a price-to-earnings ratio of -87.03, a P/E/G ratio of 0.92 and a beta of 1.22. Principal Financial Group has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter last year, the company posted $1.72 EPS. On average, research analysts anticipate that Principal Financial Group will post 7.03 EPS for the current year.

Institutional Trading of Principal Financial Group

Several large investors have recently made changes to their positions in PFG. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group during the third quarter valued at about $33,000. Truvestments Capital LLC purchased a new position in Principal Financial Group during the third quarter valued at approximately $43,000. Sugarloaf Wealth Management LLC grew its stake in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the 3rd quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP purchased a new position in Principal Financial Group in the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

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.