Principal Financial Group (NYSE:PFG) Lifted to “Neutral” at JPMorgan Chase & Co.

Principal Financial Group (NYSE:PFG) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, FinViz reports. The firm presently has a $96.00 price objective on the stock, up from their previous price objective of $88.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 23.06% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group upped their target price on Principal Financial Group from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Friday. Wells Fargo & Company lowered their target price on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Evercore ISI upped their target price on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Morgan Stanley upped their target price on Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $82.60.

Principal Financial Group Trading Down 0.6 %

PFG opened at $78.01 on Tuesday. The stock has a market cap of $18.28 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.85 and a beta of 1.21. The stock’s 50 day moving average price is $80.93 and its 200-day moving 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 quick ratio of 0.29 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same period in the prior year, the company posted $1.48 EPS. On average, equities analysts forecast that Principal Financial Group will post 7.45 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

Several hedge funds have recently made changes to their positions in PFG. Norges Bank acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $253,990,000. RIA Advisory Group LLC increased its position in shares of Principal Financial Group by 35,473.1% in the 4th quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock valued at $84,964,000 after acquiring an additional 1,076,964 shares during the period. Wellington Management Group LLP increased its position in shares of Principal Financial Group by 15.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock valued at $318,836,000 after acquiring an additional 575,646 shares during the period. Pinebridge Investments L.P. increased its position in shares of Principal Financial Group by 2,594.0% in the 4th quarter. Pinebridge Investments L.P. now owns 575,986 shares of the company’s stock valued at $45,313,000 after acquiring an additional 554,606 shares during the period. Finally, Trust Point Inc. acquired a new stake in Principal Financial Group during the 4th quarter worth about $30,290,000. 75.08% of the stock is owned by institutional investors and hedge funds.

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.