Principal Financial Group Inc (PFG) Receives $66.00 Consensus Target Price from Analysts

Shares of Principal Financial Group Inc (NYSE:PFG) have received an average recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $66.00.

Several equities research analysts recently commented on PFG shares. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Wednesday, September 26th. Morgan Stanley cut their price objective on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. UBS Group boosted their price objective on shares of Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Credit Suisse Group cut their price objective on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Finally, Barclays cut their price objective on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, July 9th.

PFG opened at $55.14 on Wednesday. Principal Financial Group has a 12 month low of $52.31 and a 12 month high of $75.58. 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 (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.58 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same period in the prior year, the firm posted $1.31 earnings per share. On average, equities research analysts anticipate 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 Friday, September 28th. Shareholders of record on Thursday, September 6th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 3.84%.

In other Principal Financial Group news, insider James P. Mccaughan sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $55.42, for a total transaction of $1,108,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Amy Christine Friedrich sold 1,700 shares of the business’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $61.00, for a total transaction of $103,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,700 shares of company stock worth $2,320,900 over the last three months. Insiders own 1.50% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in shares of Principal Financial Group by 13.2% in the 3rd quarter. Bank of Montreal Can now owns 870,796 shares of the financial services provider’s stock valued at $51,019,000 after purchasing an additional 101,331 shares during the period. KAMES CAPITAL plc bought a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $373,000. Iberiabank Corp raised its holdings in shares of Principal Financial Group by 41.0% in the 3rd quarter. Iberiabank Corp now owns 105,940 shares of the financial services provider’s stock valued at $6,207,000 after purchasing an additional 30,809 shares during the period. Manning & Napier Group LLC raised its holdings in shares of Principal Financial Group by 19.4% in the 3rd quarter. Manning & Napier Group LLC now owns 12,391 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 2,016 shares during the period. Finally, Lourd Capital LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $211,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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