Principal Financial Group Inc (NYSE:PFG) has been given an average recommendation of “Hold” by the twelve research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $70.33.
Several research analysts have commented on the company. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Friday, January 12th. Wells Fargo downgraded Principal Financial Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 9th. Goldman Sachs upgraded Principal Financial Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley lowered their target price on Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $76.00 target price on shares of Principal Financial Group in a research note on Wednesday, January 31st.
In related news, insider Luis E. Valdes sold 27,662 shares of Principal Financial Group stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $64.02, for a total value of $1,770,921.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of PFG. Massmutual Trust Co. FSB ADV boosted its stake in shares of Principal Financial Group by 5,561.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 5,661 shares of the financial services provider’s stock valued at $154,000 after buying an additional 5,561 shares in the last quarter. Resources Investment Advisors Inc. boosted its stake in shares of Principal Financial Group by 268.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after buying an additional 2,184 shares in the last quarter. Avestar Capital LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $169,000. Tower Research Capital LLC TRC purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $174,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Principal Financial Group by 215.0% in the fourth quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after buying an additional 1,782 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.
PFG traded up $0.81 during trading on Wednesday, hitting $61.06. 685,304 shares of the stock were exchanged, compared to its average volume of 1,683,334. Principal Financial Group has a 1-year low of $57.62 and a 1-year high of $75.58. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.18). The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.32 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period last year, the firm earned $1.27 EPS. sell-side analysts forecast that Principal Financial Group will post 5.22 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Monday, March 5th were paid a $0.51 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Friday, March 2nd.
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About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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