Principal Financial Group (NYSE:PFG) Earns Sector Perform Rating from Royal Bank of Canada

Principal Financial Group (NYSE:PFG)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $91.00 price objective on the stock. Royal Bank of Canada’s target price suggests a potential upside of 11.44% from the company’s previous close.

PFG has been the subject of a number of other research reports. Bank of America cut their price objective on shares of 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. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Barclays raised their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.25.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $81.66 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The business’s fifty day moving average price is $81.42 and its two-hundred day moving average price is $82.13. The stock has a market cap of $18.68 billion, a PE ratio of -90.73, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business earned $1.72 EPS. On average, analysts forecast that Principal Financial Group will post 7.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its position in shares of Principal Financial Group by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after acquiring an additional 132 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position in Principal Financial Group by 2.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after purchasing an additional 142 shares during the period. Empirical Finance LLC increased its holdings in Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after purchasing an additional 142 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Principal Financial Group by 18.2% in the second quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock valued at $76,000 after purchasing an additional 143 shares during the period. Finally, Legacy Financial Advisors Inc. lifted its stake in shares of Principal Financial Group by 2.7% during the second quarter. Legacy Financial Advisors Inc. now owns 5,575 shares of the company’s stock worth $437,000 after purchasing an additional 145 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.