Wells Fargo & Company Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG) had its price target upped by equities research analysts at Wells Fargo & Company from $69.00 to $74.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 14.51% from the company’s previous close.

PFG has been the subject of a number of other research reports. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a report on Thursday, January 16th. Piper Sandler raised their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Barclays raised their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Stock Performance

NYSE PFG opened at $86.56 on Wednesday. Principal Financial Group has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a 50-day simple moving average of $80.58 and a 200 day simple moving average of $82.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.26. The company has a market capitalization of $19.80 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.76 and a beta of 1.22.

Hedge Funds Weigh In On Principal Financial Group

A number of large investors have recently modified their holdings of the company. CTC Alternative Strategies Ltd. bought a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $209,000. EDENTREE ASSET MANAGEMENT Ltd bought a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $8,308,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Principal Financial Group by 12.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock valued at $145,318,000 after acquiring an additional 209,885 shares during the period. Voloridge Investment Management LLC boosted its position in shares of Principal Financial Group by 2.0% in the fourth quarter. Voloridge Investment Management LLC now owns 879,704 shares of the company’s stock valued at $68,098,000 after acquiring an additional 17,600 shares during the period. Finally, Waverly Advisors LLC boosted its position in shares of Principal Financial Group by 115.6% in the fourth quarter. Waverly Advisors LLC now owns 7,993 shares of the company’s stock valued at $619,000 after acquiring an additional 4,285 shares during the period. 75.08% of the stock is currently owned by institutional investors.

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.