Royal Bank of Canada Reiterates Sector Perform Rating for Principal Financial Group (NYSE:PFG)

Principal Financial Group (NYSE:PFG)‘s stock had its “sector perform” rating reissued by Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They presently have a $91.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 11.44% from the company’s current price.

PFG has been the subject of a number of other reports. Barclays upped their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Bank of America reduced their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company decreased their price objective on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research report on Tuesday. Morgan Stanley restated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $84.25.

Principal Financial Group Trading Up 0.6 %

NYSE:PFG opened at $81.66 on Thursday. The company has a market capitalization of $18.68 billion, a PE ratio of -90.73, a P/E/G ratio of 0.75 and a beta of 1.22. Principal Financial Group has a 52-week low of $72.21 and a 52-week high of $91.97. The stock’s 50 day moving average price is $81.42 and its 200 day moving average price is $82.13. 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 announced its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business posted $1.72 earnings per share. On average, research analysts anticipate that Principal Financial Group will post 7.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $33,000. Truvestments Capital LLC acquired a new position in Principal Financial Group during the third quarter worth $43,000. Prospera Private Wealth LLC purchased a new stake in Principal Financial Group during the third quarter worth $45,000. Sugarloaf Wealth Management LLC grew its holdings in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after purchasing an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Principal Financial Group in the third quarter valued at $50,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

About Principal Financial Group

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.