Principal Financial Group (NASDAQ:PFG) Price Target Raised to $69.00


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Principal Financial Group (NASDAQ:PFG) had its price target raised by analysts at Barclays from $65.00 to $69.00 in a report issued on Monday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 11.36% from the company’s current price. The analysts noted that the move was a valuation call.

Other analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of Principal Financial Group from $55.00 to $62.00 in a research report on Wednesday, March 31st. TheStreet raised shares of Principal Financial Group from a “c+” rating to a “b” rating in a research report on Thursday, January 28th. Morgan Stanley increased their target price on shares of Principal Financial Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 1st. Evercore ISI reissued an “in-line” rating and set a $63.00 target price on shares of Principal Financial Group in a research report on Monday, March 1st. Finally, Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $55.00 price objective for the company in a research report on Thursday, January 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $55.82.

NASDAQ:PFG opened at $61.96 on Monday. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.64. Principal Financial Group has a 12-month low of $28.11 and a 12-month high of $62.31. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $59.39 and its two-hundred day moving average is $52.59.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Thursday, January 28th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.93 billion. Principal Financial Group had a net margin of 8.15% and a return on equity of 9.22%. During the same period in the prior year, the firm posted $1.41 EPS. On average, equities research analysts forecast that Principal Financial Group will post 4.89 earnings per share for the current fiscal year.

In related news, insider Timothy Mark Dunbar sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 25th. The stock was sold at an average price of $60.40, for a total transaction of $604,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Julia M. Lawler sold 8,410 shares of the firm’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $53.93, for a total value of $453,551.30. The disclosure for this sale can be found here. Insiders have sold 21,906 shares of company stock valued at $1,257,348 in the last three months. Corporate insiders own 1.09% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PFG. Evolution Wealth Advisors LLC lifted its stake in Principal Financial Group by 1,043.5% in the fourth quarter. Evolution Wealth Advisors LLC now owns 526 shares of the company’s stock valued at $26,000 after buying an additional 480 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in Principal Financial Group in the fourth quarter valued at $27,000. Riggs Asset Managment Co. Inc. bought a new stake in Principal Financial Group in the fourth quarter valued at $33,000. Inspire Advisors LLC bought a new stake in Principal Financial Group in the fourth quarter valued at $33,000. Finally, TD Ameritrade Investment Management LLC bought a new stake in shares of Principal Financial Group during the fourth quarter valued at about $37,000. Institutional investors own 69.09% 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 in Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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