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

Principal Financial Group (NYSE:PFG) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Monday, Marketbeat reports. The firm presently has a $70.00 target price on the financial services provider’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 13.20% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $76.00 target price on shares of Principal Financial Group in a report on Wednesday, January 31st. Wells Fargo & Co set a $79.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a report on Thursday, December 7th. Morgan Stanley reduced their target price on shares of Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. Finally, Goldman Sachs Group upgraded shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $73.56.

Principal Financial Group (NYSE:PFG) traded up $0.45 during trading hours on Monday, hitting $61.84. 2,108,667 shares of the company traded hands, compared to its average volume of 1,430,000. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $17,860.00, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. Principal Financial Group has a 1-year low of $59.25 and a 1-year high of $75.58.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.18). The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.32 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the previous year, the firm posted $1.27 EPS. equities research analysts forecast that Principal Financial Group will post 5.22 EPS for the current year.

In other Principal Financial Group news, EVP Gary P. Scholten sold 24,310 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $71.59, for a total value of $1,740,352.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Daniel Joseph Houston sold 37,080 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $70.05, for a total transaction of $2,597,454.00. The disclosure for this sale can be found here. Insiders sold a total of 301,958 shares of company stock worth $21,343,156 in the last quarter. 1.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of PFG. Resources Investment Advisors Inc. increased its position in shares of Principal Financial Group by 268.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 2,184 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Principal Financial Group in the 4th quarter worth about $174,000. Acadian Asset Management LLC increased its position in shares of Principal Financial Group by 215.0% in the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 1,782 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Principal Financial Group in the 2nd quarter worth about $210,000. Finally, Synovus Financial Corp bought a new stake in shares of Principal Financial Group in the 4th quarter worth about $214,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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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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