Principal Financial Group Inc (NYSE:PFG) had its target price lifted by stock analysts at Morgan Stanley from $67.00 to $72.00 in a report released on Thursday. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 9.39% from the stock’s current price.

PFG has been the topic of several other research reports. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price objective on the stock in a research note on Monday. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Barclays PLC upped their price objective on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $68.00 price objective on shares of Principal Financial Group in a research note on Thursday, August 3rd. Finally, BidaskClub lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $64.56.

Principal Financial Group (NYSE PFG) traded up 1.34% during mid-day trading on Thursday, reaching $66.70. The company’s stock had a trading volume of 230,404 shares. Principal Financial Group has a 52-week low of $51.25 and a 52-week high of $67.73. The company has a 50 day moving average of $63.01 and a 200-day moving average of $63.81. The stock has a market cap of $19.27 billion, a PE ratio of 15.16 and a beta of 1.67.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter in the prior year, the company earned $1.15 earnings per share. Equities analysts forecast that Principal Financial Group will post $5.19 earnings per share for the current year.

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In related news, insider James P. Mccaughan sold 60,814 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $62.10, for a total transaction of $3,776,549.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Karen E. Shaff sold 30,500 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $65.00, for a total value of $1,982,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,772 shares of company stock worth $11,678,907. 1.50% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Principal Financial Group by 0.7% during the second quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock worth $357,000 after buying an additional 38 shares in the last quarter. Cookson Peirce & Co. Inc. grew its position in Principal Financial Group by 0.8% during the second quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock worth $427,000 after buying an additional 50 shares in the last quarter. Cleararc Capital Inc. grew its position in Principal Financial Group by 0.9% during the first quarter. Cleararc Capital Inc. now owns 6,546 shares of the financial services provider’s stock worth $413,000 after buying an additional 60 shares in the last quarter. Pitcairn Co. grew its position in Principal Financial Group by 1.5% during the second quarter. Pitcairn Co. now owns 4,312 shares of the financial services provider’s stock worth $276,000 after buying an additional 63 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Principal Financial Group by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the financial services provider’s stock worth $1,276,000 after buying an additional 82 shares in the last quarter. 68.26% of the stock is currently owned by institutional investors and hedge funds.

About Principal Financial Group

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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