Principal Financial Group (NYSE:PFG) has a “neutral” rating from JPMorgan Chase & Co.

Principal Financial Group (NYSE:PFG – Download Free Report) was raised by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Tuesday, FinViz reports. The brokerage currently has a price target for the stock of $96.00, up from the previous price target of $88.00. The JPMorgan Chase & Co. price target indicates a potential upside of 23.06% from the company’s previous close.

Several other brokerages have also recently commented on PFG. Evercore ISI raised their price target on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11. Wells Fargo & Company lowered their price target on Principal Financial Group from $91.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, April 29. Piper Sandler raised their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, April 5. Keefe, Bruyette & Woods raised their price target on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, April 10. Finally, Jefferies Financial Group raised their price target on Principal Financial Group from $74.00 to $78.00 and gave the stock a “hold” rating in a report on Friday. One research analyst rated the stock a sell, while ten gave the stock a “hold” rating. According to MarketBeat.com, the stock has a consensus rating of “hold” and an average price target of $82.60.

Get our latest analysis for Principal Financial Group

Principal Financial Group Price Performance

Principal Financial Group shares opened at $78.01 on Tuesday. The stock’s 50 day average price is $80.93 and its 200 day average price is $80.58. Principal Financial Group has a one-year low of $66.21 and a one-year high of $86.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $18.28 billion, a P/E ratio of 14.89, a price-to-earnings-to-growth ratio of 0.85 and a beta of 1.21.

Principal Financial Group (NYSE:PFG – Get Free Report) last released its quarterly earnings data on Thursday, April 25. The company reported $1.65 earnings per share for the quarter, missing analyst estimates of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the company earned $1.48 per share. Research analysts expect Principal Financial Group to post earnings of $7.45 per share for the current fiscal year.

Institutional inflows and outflows

Several hedge funds recently changed their positions in PFG. Norges Bank bought a new position in shares of Principal Financial Group in Q4 worth approximately $253,990,000. RIA Advisory Group LLC increased its position in shares of Principal Financial Group by 35,473.1% in Q4. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after acquiring an additional 1,076,964 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Principal Financial Group by 15.0% in Q3. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares in the last quarter. Pinebridge Investments LP increased its position in shares of Principal Financial Group by 2594.0% in the 4th quarter. Pinebridge Investments LP now owns 575,986 shares of the company’s stock worth $45,313,000 after acquiring an additional 554,606 shares during the last quarter. Finally, Trust Point Inc. bought a new position in shares of Principal Financial Group in the 4th quarter worth approximately $30,290,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Company Profile

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

Principal Financial Group Price Performance

Institutional inflows and outflows

Principal Financial Group Company Profile

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