Principal Financial Group (PFG) Receives “Hold” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their hold rating on shares of Principal Financial Group (NYSE:PFG) in a research note released on Wednesday. Keefe, Bruyette & Woods currently has a $76.00 price objective on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on PFG. Morgan Stanley raised their price target on Principal Financial Group from $67.00 to $72.00 and gave the company an equal weight rating in a report on Thursday, October 5th. Goldman Sachs Group initiated coverage on Principal Financial Group in a report on Wednesday, October 18th. They set a neutral rating and a $70.00 price target for the company. Wells Fargo & Co set a $76.00 price target on Principal Financial Group and gave the company a buy rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research cut Principal Financial Group from a buy rating to a hold rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Principal Financial Group presently has an average rating of Hold and a consensus target price of $71.00.

Principal Financial Group (PFG) opened at $66.35 on Wednesday. The firm has a market capitalization of $19,770.00, a P/E ratio of 10.88, a price-to-earnings-growth 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 1-year low of $58.63 and a 1-year high of $75.58.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share 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 analysts’ expectations of $3.32 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 prior year, the business earned $1.27 EPS. equities research analysts expect that Principal Financial Group will post 5.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 5th will be issued a $0.51 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.07%. Principal Financial Group’s payout ratio is 32.13%.

In other news, EVP Karen E. Shaff sold 50,561 shares of Principal Financial Group stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $69.51, for a total value of $3,514,495.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Daniel Joseph Houston sold 19,856 shares of Principal Financial Group stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $72.02, for a total value of $1,430,029.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,958 shares of company stock valued at $21,343,156. Company insiders own 1.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in PFG. Janus Henderson Group PLC boosted its holdings in shares of Principal Financial Group by 6,656.1% in the 2nd 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 period. American Century Companies Inc. boosted its holdings in shares of Principal Financial Group by 14,739.8% in the 4th quarter. American Century Companies Inc. now owns 836,964 shares of the financial services provider’s stock worth $59,056,000 after purchasing an additional 831,324 shares during the period. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Principal Financial Group by 104.5% in the 3rd 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 period. Allianz Asset Management GmbH boosted its holdings in shares of Principal Financial Group by 29.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,607,888 shares of the financial services provider’s stock worth $103,451,000 after purchasing an additional 365,068 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Principal Financial Group by 17.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,807,710 shares of the financial services provider’s stock worth $115,693,000 after purchasing an additional 262,065 shares during the period. Hedge funds and other 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.

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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