Principal Financial Group (PFG) Price Target Cut to $50.00 by Analysts at UBS Group

Principal Financial Group (NYSE:PFG) had its price objective decreased by UBS Group from $51.00 to $50.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. UBS Group currently has a sell rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada raised their price target on shares of Principal Financial Group to $55.00 and gave the stock a market perform rating in a report on Monday, April 29th. Zacks Investment Research upgraded shares of Principal Financial Group from a sell rating to a hold rating and set a $59.00 price objective for the company in a report on Wednesday, April 3rd. TheStreet upgraded shares of Principal Financial Group from a c+ rating to a b- rating in a report on Monday, January 28th. Finally, Goldman Sachs Group cut shares of Principal Financial Group from a buy rating to a neutral rating and set a $50.00 price objective for the company. in a report on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Principal Financial Group presently has a consensus rating of Hold and a consensus price target of $58.44.

NYSE:PFG opened at $56.45 on Tuesday. Principal Financial Group has a 12 month low of $40.42 and a 12 month high of $61.12.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the business posted $1.40 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, May 31st.

In other news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 3,000 shares of company stock valued at $160,370 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PFG. FTB Advisors Inc. lifted its position in shares of Principal Financial Group by 377.3% during the first quarter. FTB Advisors Inc. now owns 525 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 415 shares in the last quarter. NuWave Investment Management LLC lifted its position in shares of Principal Financial Group by 464.4% during the first quarter. NuWave Investment Management LLC now owns 570 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 469 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its position in shares of Principal Financial Group by 644.9% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 797 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 690 shares in the last quarter. Tompkins Financial Corp bought a new position in shares of Principal Financial Group during the first quarter valued at about $42,000. Finally, Truvestments Capital LLC bought a new position in shares of Principal Financial Group during the first quarter valued at about $47,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

About Principal Financial Group

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

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