Principal Financial Group Inc (NYSE:PFG) Receives Consensus Rating of “Hold” from Analysts

Shares of Principal Financial Group Inc (NYSE:PFG) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $56.14.

A number of analysts have recently weighed in on PFG shares. Royal Bank of Canada boosted their price objective on shares of Principal Financial Group to $55.00 and gave the stock a “market perform” rating in a research note on Monday, April 29th. Morgan Stanley boosted their price objective on shares of Principal Financial Group from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. UBS Group reduced their price objective on shares of Principal Financial Group from $51.00 to $50.00 and set a “sell” rating for the company in a research note on Tuesday, May 7th. Finally, Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, July 2nd.

In related news, insider Luis E. Valdes sold 11,829 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.54, for a total transaction of $704,298.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $51.50, for a total transaction of $51,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,490 shares of company stock valued at $3,620,939. Corporate insiders own 1.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Comerica Securities Inc. purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $2,374,000. Dimensional Fund Advisors LP grew its position in Principal Financial Group by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,963,240 shares of the financial services provider’s stock valued at $175,047,000 after purchasing an additional 264,669 shares in the last quarter. Geode Capital Management LLC grew its position in Principal Financial Group by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 4,149,598 shares of the financial services provider’s stock valued at $183,017,000 after purchasing an additional 550,835 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $4,146,000. Finally, Millennium Management LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $9,157,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Shares of Principal Financial Group stock traded down $0.21 on Tuesday, reaching $53.51. The stock had a trading volume of 30,033 shares, compared to its average volume of 1,521,254. The business has a 50-day moving average price of $58.14. Principal Financial Group has a fifty-two week low of $40.42 and a fifty-two week high of $61.12.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.12. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be paid a dividend of $0.55 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 4.11%.

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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Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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