Piper Sandler Thinks Principal Financial’s Stock is Going to Recover

By Ryan Adsit

In a report released today, John Barnidge from Piper Sandler maintained a Buy rating on Principal Financial (PFGResearch Report), with a price target of $43.00. The company’s shares closed last Friday at $26.41, close to its 52-week low of $23.31.

According to TipRanks.com, Barnidge is a 2-star analyst with an average return of -1.7% and a 42.1% success rate. Barnidge covers the Financial sector, focusing on stocks such as American Equity Investment Life, Horace Mann Educators, and Brighthouse Financial.

The word on The Street in general, suggests a Hold analyst consensus rating for Principal Financial with a $38.20 average price target.

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Principal Financial’s market cap is currently $7.31B and has a P/E ratio of 5.50. The company has a Price to Book ratio of 0.68.

Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PFG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Principal Financial Group, Inc. is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals. It operates its business through following segments: Retirement and Income Solutions, Principal Global Investors, Principal International, U.S. Insurance Solutions and Corporate. The Retirement and Income Solutions segment provides retirement and related financial products and services primarily to businesses, their employees and other individuals. The Principal Global Investors segment provides asset management services to asset accumulation business, insurance operations, corporate segment and third party clients and also refers to mutual fund business. The Principal International segment offers pension accumulation products and services, mutual funds, asset management, income annuities and life insurance accumulation products. The U.S. Insurance Solutions segment operates through two divisions. Specialty benefits insurance division consists of group dental and vision insurance, individual and group disability insurance, group life insurance and non-medical fee-for-service claims administration. Individual life insurance division provides solutions for small & medium-sized businesses. The Corporate segment manages the assets representing capital that has not been allocated to any other segment. The company was founded by Edward A. Temple in 1879 and is headquartered in Des Moines, IA.