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.
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.
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.
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