Principal Financial Group (NASDAQ:PFG) Receives Market Perform Rating from Keefe, Bruyette & Woods

Principal Financial Group (NASDAQ:PFG)‘s stock had its “market perform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $92.00 target price on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 4.35% from the company’s current price.

A number of other brokerages also recently weighed in on PFG. UBS Group raised their target price on Principal Financial Group from $88.00 to $92.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Piper Sandler upped their price objective on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Wells Fargo & Company raised Principal Financial Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $85.00 to $91.00 in a research note on Wednesday, February 25th. Bank of America lifted their target price on Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings raised shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.22.

Principal Financial Group Price Performance

PFG stock traded down $0.56 during midday trading on Thursday, reaching $88.16. The company had a trading volume of 495,879 shares, compared to its average volume of 1,739,309. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.82 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. Principal Financial Group has a 1-year low of $68.39 and a 1-year high of $97.88. The stock has a 50 day moving average price of $91.71 and a 200-day moving average price of $87.08.

Principal Financial Group (NASDAQ:PFG) last issued its earnings results on Wednesday, February 18th. The company reported $2.20 EPS for the quarter. The company had revenue of $4.58 billion during the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Insider Activity

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total value of $884,616.00. Following the completion of the transaction, the chief executive officer owned 144,168 shares in the company, valued at $13,713,260.16. This trade represents a 6.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 24,965 shares of company stock valued at $2,352,460 over the last three months. Corporate insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

Several large investors have recently modified their holdings of the business. Capital Management Corp VA increased its holdings in Principal Financial Group by 19.2% during the 3rd quarter. Capital Management Corp VA now owns 172,736 shares of the company’s stock worth $14,322,000 after purchasing an additional 27,857 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Principal Financial Group by 160.3% in the third quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock valued at $3,978,000 after purchasing an additional 30,118 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in shares of Principal Financial Group by 41.5% during the third quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock valued at $10,504,000 after buying an additional 37,357 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in Principal Financial Group during the third quarter worth $18,526,000. Finally, Capital Fund Management S.A. bought a new stake in Principal Financial Group during the second quarter worth $1,486,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.