Principal Financial Group (NYSE:PFG) PT Set at $56.00 by Morgan Stanley

Principal Financial Group (NYSE:PFG) has been given a $56.00 price objective by equities research analysts at Morgan Stanley in a report released on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 1.67% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, July 2nd. Barclays set a $66.00 price objective on Principal Financial Group and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, UBS Group reduced their price objective on Principal Financial Group from $49.00 to $48.00 and set a “sell” rating for the company in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.17.

Shares of Principal Financial Group stock traded up $0.57 during trading on Friday, reaching $55.08. The company’s stock had a trading volume of 838,651 shares, compared to its average volume of 1,380,156. Principal Financial Group has a 12-month low of $40.42 and a 12-month high of $60.81. The business has a 50 day moving average price of $55.93 and a 200-day moving average price of $55.82.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.23). During the same quarter last year, the firm posted $1.67 earnings per share.

In other news, EVP Julia M. Lawler sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.95, for a total transaction of $52,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 3,000 shares of company stock worth $168,500 over the last ninety days. Insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PFG. Krueger & Catalano Capital Partners LLC raised its position in shares of Principal Financial Group by 3.7% in the second quarter. Krueger & Catalano Capital Partners LLC now owns 4,750 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 171 shares during the period. Signature Wealth Management Group raised its position in shares of Principal Financial Group by 0.3% in the third quarter. Signature Wealth Management Group now owns 57,432 shares of the financial services provider’s stock valued at $3,282,000 after purchasing an additional 190 shares during the period. Unison Advisors LLC raised its position in shares of Principal Financial Group by 1.0% in the second quarter. Unison Advisors LLC now owns 19,934 shares of the financial services provider’s stock valued at $1,154,000 after purchasing an additional 206 shares during the period. Securian Asset Management Inc raised its position in shares of Principal Financial Group by 0.8% in the second quarter. Securian Asset Management Inc now owns 26,682 shares of the financial services provider’s stock valued at $1,545,000 after purchasing an additional 209 shares during the period. Finally, Ropes Wealth Advisors LLC raised its position in shares of Principal Financial Group by 5.3% in the second quarter. Ropes Wealth Advisors LLC now owns 4,709 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

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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Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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