Principal Financial Group Shares Soar 1.61% Ahead of Earnings

Principal Financial Group (PFG) shares surged 1.61% today, reaching their highest level since May 2025 with an intraday gain of 2.28%.

The strategy of buying PFG shares after they reached a recent high and holding for one week yielded a 6.07% return over the past five years. However, this return underperformed the benchmark by 50.92%. The strategy faced significant volatility, with a maximum drawdown of -20.57%, indicating a challenging risk-return profile.

Barclays recently adjusted its price target for Principal Financial Group, raising it from $76.00 to $80.00 while maintaining an "Underweight" rating. This adjustment reflects a 5.26% increase in the price target, suggesting that Barclays expects PFG to underperform relative to the broader market despite the higher target.

Principal Financial Group is set to release its second-quarter earnings report later this month. Analysts are anticipating solid double-digit growth in earnings, which could be driving investor optimism and contributing to the recent stock price movement.