Principal Financial Group (NYSE:PFG) Rating Increased to Overweight at JPMorgan Chase & Co.

Principal Financial Group (NYSE:PFG) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Tuesday,Benzinga reports. The firm currently has a $92.00 target price on the stock, down from their prior target price of $95.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 18.22% from the company’s current price.

A number of other research analysts also recently issued reports on PFG. Barclays boosted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Morgan Stanley reiterated an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Wells Fargo & Company restated an “underweight” rating and issued a $75.00 target price (down from $84.00) on shares of Principal Financial Group in a research note on Wednesday, December 11th. Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.42.

Principal Financial Group Trading Down 0.1 %

PFG opened at $77.82 on Tuesday. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a fifty day moving average of $82.23 and a 200-day moving average of $82.23. The stock has a market cap of $17.80 billion, a PE ratio of -86.47, a price-to-earnings-growth ratio of 0.92 and a beta of 1.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. On average, sell-side analysts predict that Principal Financial Group will post 7.03 EPS for the current year.

Institutional Trading of Principal Financial Group

Several hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $19,698,000. Bank of Montreal Can increased its position in Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after buying an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Principal Financial Group by 818.1% in the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after buying an additional 136,021 shares during the period. International Assets Investment Management LLC lifted its position in shares of Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after buying an additional 130,225 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company’s stock worth $211,534,000 after acquiring an additional 118,722 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.