Piper Sandler Raises Principal Financial Group (NYSE:PFG) Price Target to $95.00

Principal Financial Group (NYSE:PFG) had its target price increased by equities research analysts at Piper Sandler from $93.00 to $95.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 10.95% from the company’s previous close.

PFG has been the topic of several other reports. Wells Fargo & Company raised their target price on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Barclays upped their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, February 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.08.

Principal Financial Group Stock Performance

PFG stock traded up $0.47 during midday trading on Wednesday, reaching $85.62. The company had a trading volume of 136,866 shares, compared to its average volume of 1,461,274. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $84.26 and a 200 day moving average price of $83.75. The firm has a market capitalization of $19.31 billion, a PE ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group has a fifty-two week low of $72.21 and a fifty-two week high of $91.97.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Curio Wealth LLC acquired a new position in shares of Principal Financial Group in the 4th quarter worth $29,000. BankPlus Trust Department purchased a new position in Principal Financial Group in the 4th quarter worth about $33,000. Navigoe LLC acquired a new stake in Principal Financial Group during the 4th quarter worth about $37,000. Ameriflex Group Inc. purchased a new stake in Principal Financial Group during the fourth quarter valued at about $37,000. Finally, Covestor Ltd lifted its stake in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after buying an additional 319 shares in the last quarter. Institutional investors 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.