Principal Financial Group (NYSE:PFG) Raised to Equal Weight at Morgan Stanley

Principal Financial Group (NYSE:PFG) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $81.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 2.35% from the company’s current price.

Other research analysts also recently issued reports about the company. Evercore ISI lifted their target price on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their price target on Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Piper Sandler set a $94.00 price target on Principal Financial Group and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Barclays upped their price objective 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. Finally, UBS Group boosted their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and a consensus target price of $88.70.

Principal Financial Group Stock Down 0.3%

Shares of NYSE:PFG opened at $79.14 on Thursday. The firm has a fifty day moving average price of $80.84 and a 200 day moving average price of $78.51. Principal Financial Group has a 1-year low of $68.39 and a 1-year high of $90.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market cap of $17.63 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the business earned $1.63 earnings per share. Sell-side analysts predict that Principal Financial Group will post 8.5 EPS for the current year.

Institutional Trading of Principal Financial Group

A number of institutional investors have recently added to or reduced their stakes in PFG. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at approximately $25,000. Traub Capital Management LLC purchased a new position in Principal Financial Group in the 2nd quarter valued at approximately $26,000. Capital A Wealth Management LLC increased its stake in Principal Financial Group by 5,533.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after purchasing an additional 332 shares in the last quarter. American National Bank & Trust purchased a new position in Principal Financial Group in the 2nd quarter valued at approximately $28,000. Finally, Curio Wealth LLC increased its stake 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 purchasing an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 75.08% 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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.