Principal Financial Group Inc (PFG) Given Average Rating of “Hold” by Brokerages

Shares of Principal Financial Group Inc (NYSE:PFG) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $68.80.

PFG has been the topic of several analyst reports. Morgan Stanley increased their price objective on Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Wells Fargo & Co set a $79.00 price objective on Principal Financial Group and gave the company a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $73.00 price objective on shares of Principal Financial Group in a research note on Monday, December 11th. Finally, Goldman Sachs Group initiated coverage on Principal Financial Group in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 price objective on the stock.

Shares of Principal Financial Group (PFG) traded up $0.11 during midday trading on Monday, hitting $72.11. The stock had a trading volume of 478,312 shares, compared to its average volume of 1,010,000. The firm has a market capitalization of $20,820.00, a PE ratio of 11.82, a P/E/G ratio of 1.35 and a beta of 1.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group has a twelve month low of $56.12 and a twelve month high of $72.23.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.02). The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the previous year, the business posted $1.15 earnings per share. sell-side analysts expect that Principal Financial Group will post 5.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Monday, December 4th were paid a $0.49 dividend. The ex-dividend date was Friday, December 1st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.72%. Principal Financial Group’s dividend payout ratio (DPR) is currently 32.13%.

In other Principal Financial Group news, EVP Timothy Mark Dunbar sold 16,400 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $70.23, for a total value of $1,151,772.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nora Mary Everett sold 12,398 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $843,064.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,475 shares of company stock worth $17,734,943. 1.50% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in shares of Principal Financial Group by 6,656.1% during the second quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock worth $193,529,000 after purchasing an additional 2,975,888 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Principal Financial Group by 1,613.5% during the second quarter. Nordea Investment Management AB now owns 668,624 shares of the financial services provider’s stock worth $42,839,000 after purchasing an additional 629,604 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in shares of Principal Financial Group by 104.5% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,180,596 shares of the financial services provider’s stock worth $75,959,000 after purchasing an additional 603,342 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Principal Financial Group by 3.3% during the second quarter. BlackRock Inc. now owns 18,306,790 shares of the financial services provider’s stock worth $1,172,916,000 after purchasing an additional 592,172 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Principal Financial Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 30,237,096 shares of the financial services provider’s stock worth $1,937,291,000 after purchasing an additional 587,221 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

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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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