JPMorgan Chase & Co. Reaffirms Neutral Rating for Principal Financial Group (NYSE:PFG)

Principal Financial Group (NYSE:PFG)‘s stock had its “neutral” rating reaffirmed by JPMorgan Chase & Co. in a report released on Monday,Benzinga reports. They currently have a $103.00 target price on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.19% from the company’s previous close.

A number of other brokerages have also recently commented on PFG. Keefe, Bruyette & Woods raised their price target on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Morgan Stanley set a $93.00 target price on shares of Principal Financial Group in a research report on Monday, December 15th. Barclays increased their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Finally, Wells Fargo & Company upped their target price on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $90.90.

Principal Financial Group Stock Up 1.4%

Shares of PFG opened at $89.42 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 12 month low of $68.39 and a 12 month high of $92.10. The firm’s 50 day moving average is $85.90 and its 200-day moving average is $82.06. The stock has a market capitalization of $19.92 billion, a PE ratio of 13.39, a P/E/G ratio of 0.76 and a beta of 0.89.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the previous year, the company earned $2.05 earnings per share. Equities research analysts forecast that Principal Financial Group will post 8.5 EPS for the current year.

Insider Activity at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 1,887 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the sale, the executive vice president owned 81,421 shares of the company’s stock, valued at $6,924,041.84. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

Several large investors have recently bought and sold shares of PFG. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Principal Financial Group during the second quarter worth about $25,000. Traub Capital Management LLC bought a new position in Principal Financial Group in the 2nd quarter valued at approximately $26,000. Capital A Wealth Management LLC boosted its position in Principal Financial Group by 5,533.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock worth $27,000 after buying an additional 332 shares during the period. American National Bank & Trust bought a new stake in Principal Financial Group during the 2nd quarter worth approximately $28,000. Finally, Curio Wealth LLC increased its position in Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock valued at $30,000 after acquiring an additional 378 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Company Profile

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.