Principal Financial Group (NYSE:PFG) Rating Increased to Neutral at JPMorgan Chase & Co.

Principal Financial Group (NYSE:PFG) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $96.00 price target on the stock, up from their previous price target of $88.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 21.27% from the company’s current price.

PFG has been the topic of a number of other research reports. Piper Sandler boosted their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Evercore ISI boosted their target price on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their target price on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Jefferies Financial Group boosted their target price on Principal Financial Group from $74.00 to $78.00 and gave the company a “hold” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $82.60.

Principal Financial Group Trading Down 0.1 %

PFG opened at $79.16 on Tuesday. Principal Financial Group has a one year low of $66.21 and a one year high of $86.79. The stock has a market capitalization of $18.55 billion, a PE ratio of 15.33, a P/E/G ratio of 0.85 and a beta of 1.21. The business’s 50 day moving average price is $80.82 and its 200 day moving average price is $80.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. As a group, equities research analysts expect that Principal Financial Group will post 7.45 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

Several large investors have recently bought and sold shares of the business. Spire Wealth Management boosted its stake in Principal Financial Group by 152.0% in the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Principal Financial Group in the fourth quarter valued at $31,000. Fortis Group Advisors LLC acquired a new position in Principal Financial Group in the third quarter valued at $33,000. Newbridge Financial Services Group Inc. acquired a new position in Principal Financial Group in the fourth quarter valued at $33,000. Finally, Riverview Trust Co acquired a new position in Principal Financial Group in the first quarter valued at $34,000. 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.