Principal Financial Group (NASDAQ:PFG) Price Target Cut to $84.00 by Analysts at Barclays

Principal Financial Group (NASDAQ:PFG) had its price target cut by investment analysts at Barclays from $85.00 to $84.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price indicates a potential downside of 10.10% from the company’s previous close.

PFG has been the topic of a number of other research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $103.00 price target on shares of Principal Financial Group in a report on Monday, January 5th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th. Wells Fargo & Company raised Principal Financial Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $85.00 to $91.00 in a report on Wednesday, February 25th. UBS Group raised their price target on Principal Financial Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Piper Sandler raised their price target on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $94.11.

Principal Financial Group Stock Performance

Shares of NASDAQ PFG traded up $2.38 during midday trading on Wednesday, reaching $93.44. 611,102 shares of the company were exchanged, compared to its average volume of 1,673,931. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group has a 1 year low of $68.39 and a 1 year high of $97.88. The stock has a fifty day simple moving average of $91.52 and a 200 day simple moving average of $87.66. The stock has a market cap of $20.26 billion, a P/E ratio of 17.73, a PEG ratio of 0.83 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.The firm had revenue of $4.58 billion for the quarter.

Insider Buying and Selling

In related news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the sale, the chief executive officer owned 136,828 shares in the company, valued at $12,998,660. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 24,965 shares of company stock valued at $2,352,460 in the last three months. 1.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Principal Financial Group

Hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Principal Financial Group in the fourth quarter valued at about $26,000. Hilton Head Capital Partners LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at about $26,000. Capital A Wealth Management LLC lifted its position in shares of Principal Financial Group by 5,533.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after acquiring an additional 332 shares during the period. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of Principal Financial Group by 343.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after acquiring an additional 268 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

About Principal Financial Group

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.