Equities research analysts at Wolfe Research began coverage on shares of Principal Financial Group (NASDAQ:PFG) in a report released on Friday, The Fly reports. The brokerage set a “market perform” rating on the stock.
A number of other equities analysts have also recently weighed in on the company. The Goldman Sachs Group initiated coverage on Principal Financial Group in a report on Thursday, December 2nd. They set a “sell” rating and a $64.00 price target for the company. Royal Bank of Canada increased their price target on Principal Financial Group from $67.00 to $71.00 and gave the stock a “sector perform” rating in a report on Thursday, October 28th. They noted that the move was a valuation call. Barclays increased their price target on Principal Financial Group from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, January 11th. Piper Sandler increased their price target on Principal Financial Group from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, December 13th. Finally, Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $79.00 price target for the company in a report on Thursday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $71.91.
Shares of PFG opened at $73.64 on Friday. Principal Financial Group has a 52-week low of $48.88 and a 52-week high of $77.68. The company has a market capitalization of $19.52 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.59. The stock has a fifty day simple moving average of $72.51 and a two-hundred day simple moving average of $67.92. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.27.
Principal Financial Group (NASDAQ:PFG) last issued its earnings results on Tuesday, October 26th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.10. Principal Financial Group had a return on equity of 10.91% and a net margin of 12.28%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company earned $0.85 EPS. As a group, equities analysts anticipate that Principal Financial Group will post 6.54 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of PFG. Credit Suisse AG raised its position in shares of Principal Financial Group by 80.4% during the 2nd quarter. Credit Suisse AG now owns 5,726,411 shares of the company’s stock worth $361,852,000 after acquiring an additional 2,551,724 shares in the last quarter. Barclays PLC raised its position in shares of Principal Financial Group by 228.0% during the 3rd quarter. Barclays PLC now owns 2,665,190 shares of the company’s stock worth $171,641,000 after acquiring an additional 1,852,584 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Principal Financial Group by 251.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,764,900 shares of the company’s stock worth $111,524,000 after acquiring an additional 1,262,900 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Principal Financial Group by 23.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,781,997 shares of the company’s stock worth $307,960,000 after acquiring an additional 895,728 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Principal Financial Group by 1,275.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 880,017 shares of the company’s stock worth $55,608,000 after acquiring an additional 816,017 shares in the last quarter. 71.77% of the stock is currently owned by institutional investors and hedge funds.
Principal Financial Group Company Profile
Principal Financial Group, Inc is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals.