Barclays Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG) had its target price lifted by equities researchers at Barclays from $77.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target indicates a potential downside of 2.83% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Wells Fargo & Company dropped their target price on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th. Bank of America dropped their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, 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 on the stock. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $85.15.

Principal Financial Group Stock Up 2.9 %

NYSE:PFG traded up $2.33 on Friday, hitting $82.33. 3,128,667 shares of the company’s stock were exchanged, compared to its average volume of 1,441,095. The firm has a 50-day moving average price of $80.14 and a 200-day moving average price of $82.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a market cap of $18.83 billion, a P/E ratio of -91.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.22.

Institutional Trading of Principal Financial Group

Large investors have recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new position in Principal Financial Group in the 3rd quarter valued at approximately $33,000. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter valued at approximately $33,000. Truvestments Capital LLC bought a new position in Principal Financial Group in the 3rd quarter valued at approximately $43,000. Prospera Private Wealth LLC bought a new position in Principal Financial Group in the 3rd quarter valued at approximately $45,000. Finally, Sugarloaf Wealth Management LLC lifted its stake in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares during the last quarter. 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.