Morgan Stanley Cuts Principal Financial Group (PFG) Price Target to $79.00

Principal Financial Group (NYSE:PFG) had its target price reduced by stock analysts at Morgan Stanley from $80.00 to $79.00 in a research report issued on Tuesday. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 14.29% from the stock’s previous close.

PFG has been the topic of several other research reports. Zacks Investment Research cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Principal Financial Group in a research note on Monday, December 11th. Wells Fargo & Co cut shares of Principal Financial Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 9th. Finally, Goldman Sachs Group started coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $70.67.

Principal Financial Group (NYSE PFG) traded down $5.38 during trading on Tuesday, reaching $69.12. 1,402,131 shares of the company’s stock traded hands, compared to its average volume of 1,101,416. The firm has a market cap of $21,510.00, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group has a 52-week low of $56.12 and a 52-week high of $75.58.

Principal Financial Group (NYSE:PFG) last released its earnings results on Monday, January 29th. The financial services provider reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.17). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter last year, the firm posted $1.27 EPS. equities research analysts anticipate that Principal Financial Group will post 5.22 earnings per share for the current year.

In other news, EVP Timothy Mark Dunbar sold 16,400 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $70.23, for a total value of $1,151,772.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Daniel Joseph Houston sold 19,856 shares of Principal Financial Group stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $72.02, for a total transaction of $1,430,029.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 301,958 shares of company stock worth $21,343,156. 1.50% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of PFG. Janus Henderson Group PLC boosted its holdings in shares of Principal Financial Group by 6,656.1% during the second quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock worth $193,529,000 after purchasing an additional 2,975,888 shares during the period. Old Mutual Global Investors UK Ltd. lifted its stake in Principal Financial Group by 104.5% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,180,596 shares of the financial services provider’s stock valued at $75,959,000 after acquiring an additional 603,342 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Principal Financial Group by 29.4% in the third quarter. Allianz Asset Management GmbH now owns 1,607,888 shares of the financial services provider’s stock valued at $103,451,000 after acquiring an additional 365,068 shares during the last quarter. Schroder Investment Management Group lifted its stake in Principal Financial Group by 17.0% in the third quarter. Schroder Investment Management Group now owns 1,807,710 shares of the financial services provider’s stock valued at $115,693,000 after acquiring an additional 262,065 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Principal Financial Group by 286.2% in the third quarter. Canada Pension Plan Investment Board now owns 351,435 shares of the financial services provider’s stock valued at $22,611,000 after acquiring an additional 260,444 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

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Principal Financial Group Company Profile

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)