Principal Financial Group (NYSE:PFG – Get Free Report) had its target price lowered by equities research analysts at Wells Fargo & Company from $78.00 to $72.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 1.97% from the stock’s current price.
PFG has been the topic of a number of other research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price target on shares of Principal Financial Group in a report on Monday, July 31st. Piper Sandler dropped their target price on shares of Principal Financial Group from $82.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. StockNews.com started coverage on shares of Principal Financial Group in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Jefferies Financial Group dropped their target price on shares of Principal Financial Group from $69.00 to $66.00 and set a “hold” rating on the stock in a report on Thursday, September 14th. Finally, Morgan Stanley restated an “underweight” rating and issued a $70.00 target price on shares of Principal Financial Group in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus target price of $75.92.
Check Out Our Latest Stock Report on PFG
Principal Financial Group Price Performance
Principal Financial Group (NYSE:PFG – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.13). The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.49 billion. Principal Financial Group had a return on equity of 15.85% and a net margin of 11.52%. Sell-side analysts predict that Principal Financial Group will post 6.4 earnings per share for the current year.
Institutional Investors Weigh In On Principal Financial Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. GPS Wealth Strategies Group LLC bought a new stake in shares of Principal Financial Group during the first quarter worth about $28,000. GHP Investment Advisors Inc. increased its position in shares of Principal Financial Group by 143.0% during the third quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock worth $27,000 after acquiring an additional 226 shares in the last quarter. ICA Group Wealth Management LLC increased its position in shares of Principal Financial Group by 100.0% during the first quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Principal Financial Group during the first quarter worth about $32,000. Finally, Clear Street Markets LLC increased its position in shares of Principal Financial Group by 96.1% during the first quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after acquiring an additional 220 shares in the last quarter. 70.68% of the stock is 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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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