JPMorgan Chase & Co. Issues Pessimistic Forecast for Principal Financial Group (NASDAQ:PFG) Stock Price

Principal Financial Group (NASDAQ:PFG) had its target price lowered by research analysts at JPMorgan Chase & Co. from $107.00 to $106.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 1.51% from the company’s current price.

Other research analysts have also issued reports about the stock. Piper Sandler increased their price target on shares of Principal Financial Group from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. Bank of America upped their price objective on shares of Principal Financial Group from $94.00 to $104.00 and gave the stock an “underperform” rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wells Fargo & Company cut their price target on Principal Financial Group from $115.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Morgan Stanley raised their price objective on Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.75.

Principal Financial Group Stock Up 0.3%

Shares of PFG stock traded up $0.37 during midday trading on Thursday, reaching $107.63. 222,489 shares of the stock were exchanged, compared to its average volume of 1,453,802. Principal Financial Group has a 1 year low of $77.90 and a 1 year high of $121.18. The firm has a market cap of $23.04 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.02 and a beta of 0.86. The company’s 50 day moving average is $113.04 and its two-hundred day moving average is $107.26. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%. During the same period in the prior year, the firm earned $2.16 earnings per share. On average, equities research analysts predict that Principal Financial Group will post 9.56 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Principal Financial Group in the 2nd quarter worth approximately $2,157,181,000. Bank of America Corp DE purchased a new stake in Principal Financial Group during the 2nd quarter valued at $741,960,000. Legal & General Group Plc bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $164,848,000. Deutsche Bank AG bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $132,735,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Principal Financial Group in the 2nd quarter worth $124,372,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, Inc is a global financial services company headquartered in Des Moines, Iowa. Founded in 1879, the company provides retirement, investment, insurance and financial wellness solutions to individuals, businesses and institutional clients.

Its offerings include employer-sponsored retirement plans, individual retirement accounts, pension and income solutions, group benefits, life insurance and specialty benefits. Through its investment management operations, Principal also provides asset management and related services to retirement plans, institutions and individual investors.

Principal Financial Group serves customers in the United States and selected international markets, including countries in Latin America and Asia.