Royal Bank of Canada Raises Principal Financial Group (NYSE:PFG) Price Target to $91.00

Principal Financial Group (NYSE:PFG) had its price target hoisted by equities researchers at Royal Bank of Canada from $87.00 to $91.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.14% from the company’s current price.

A number of other research analysts also recently commented on PFG. Morgan Stanley dropped their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Bank of America decreased their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler raised their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Citigroup lifted their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $84.15 on Tuesday. The stock’s 50-day moving average is $85.94 and its two-hundred day moving average is $82.31. 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 1-year low of $71.39 and a 1-year high of $91.97. The company has a market cap of $19.25 billion, a price-to-earnings ratio of -93.50, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company earned $1.72 EPS. Analysts forecast that Principal Financial Group will post 7.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Principal Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in shares of Principal Financial Group by 2.2% in the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after acquiring an additional 135 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Principal Financial Group by 5.0% during the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after acquiring an additional 138 shares in the last quarter. Graypoint LLC raised its holdings in Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after buying an additional 140 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after buying an additional 142 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 75.08% 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 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.