Principal Financial Group (NYSE:PFG) Price Target Cut to $90.00 by Analysts at Keefe, Bruyette & Woods

Principal Financial Group (NYSE:PFG) had its price target dropped by equities research analysts at Keefe, Bruyette & Woods from $93.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 17.65% from the stock’s current price.

PFG has been the subject of several other research reports. Royal Bank of Canada upped their price target on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a report on Wednesday, December 18th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.75.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded down $1.83 during trading hours on Friday, hitting $76.50. 149,756 shares of the company’s stock were exchanged, compared to its average volume of 859,782. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of -85.00, a PEG ratio of 0.92 and a beta of 1.22. The company’s 50-day moving average price is $81.91 and its 200-day moving average price is $82.16.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the prior year, the firm posted $1.72 EPS. On average, sell-side analysts expect that Principal Financial Group will post 7.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Ballentine Partners LLC lifted its stake in shares of Principal Financial Group by 5.0% in the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after purchasing an additional 138 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $122,000. Choreo LLC lifted its stake in shares of Principal Financial Group by 77.1% in the 2nd quarter. Choreo LLC now owns 15,097 shares of the company’s stock valued at $1,178,000 after purchasing an additional 6,571 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Principal Financial Group by 6.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 27,066 shares of the company’s stock valued at $2,124,000 after purchasing an additional 1,652 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Principal Financial Group by 65.0% in the 2nd quarter. American Century Companies Inc. now owns 166,052 shares of the company’s stock valued at $13,027,000 after purchasing an additional 65,385 shares during the period. 75.08% of the stock is currently owned by institutional investors.

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.