Principal Financial Group (NYSE:PFG) Raised to “Overweight” at JPMorgan Chase & Co.

Principal Financial Group (NYSE:PFG) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a $92.00 price objective on the stock, down from their prior price objective of $95.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 18.22% from the company’s current price.

Several other research firms also recently commented on PFG. Wells Fargo & Company reissued an “underweight” rating and issued a $75.00 price objective (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Royal Bank of Canada increased their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research note on Wednesday, December 18th. Bank of America cut their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.42.

Principal Financial Group Stock Down 0.1 %

NYSE:PFG opened at $77.82 on Tuesday. Principal Financial Group has a 1 year low of $72.21 and a 1 year high of $91.97. The stock has a 50-day moving average price of $82.23 and a two-hundred day moving average price of $82.23. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of -86.47, a PEG ratio of 0.92 and a beta of 1.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the prior year, the business earned $1.72 EPS. As a group, equities analysts expect that Principal Financial Group will post 7.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Candriam S.C.A. increased its position in Principal Financial Group by 27.8% in the 2nd quarter. Candriam S.C.A. now owns 24,026 shares of the company’s stock valued at $1,885,000 after acquiring an additional 5,223 shares during the period. Cullen Frost Bankers Inc. increased its holdings in Principal Financial Group by 298.8% in the second quarter. Cullen Frost Bankers Inc. now owns 1,037 shares of the company’s stock valued at $81,000 after purchasing an additional 777 shares during the period. Strategic Financial Concepts LLC bought a new position in Principal Financial Group during the 2nd quarter worth $32,000. Caprock Group LLC raised its position in Principal Financial Group by 20.3% during the 2nd quarter. Caprock Group LLC now owns 6,223 shares of the company’s stock worth $488,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds 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.