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

Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) has received an average rating of “Hold” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $71.82.

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their price target on Principal Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 17th. Royal Bank of Canada reduced their target price on Principal Financial Group from $79.00 to $70.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. dropped their price target on Principal Financial Group from $72.00 to $69.00 in a report on Monday, July 11th. Piper Sandler dropped their price target on Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Finally, Credit Suisse Group cut Principal Financial Group from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $82.00 to $86.00 in a report on Thursday, August 18th.

Insider Activity

In related news, EVP Roberto Walker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $78.58, for a total value of $471,480.00. Following the completion of the transaction, the executive vice president now directly owns 43,008 shares in the company, valued at approximately $3,379,568.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Principal Financial Group news, Director Sandra L. Helton sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $72.90, for a total value of $1,093,500.00. Following the sale, the director now owns 32,278 shares in the company, valued at approximately $2,353,066.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Roberto Walker sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $78.58, for a total transaction of $471,480.00. Following the sale, the executive vice president now owns 43,008 shares in the company, valued at $3,379,568.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,422 shares of company stock worth $3,462,066. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. raised its holdings in shares of Principal Financial Group by 507.5% during the second quarter. Federated Hermes Inc. now owns 8,991 shares of the company’s stock worth $600,000 after purchasing an additional 7,511 shares during the last quarter. Private Trust Co. NA acquired a new stake in shares of Principal Financial Group in the second quarter valued at about $68,000. Amundi boosted its position in Principal Financial Group by 1.4% during the second quarter. Amundi now owns 1,004,536 shares of the company’s stock worth $61,432,000 after acquiring an additional 14,066 shares during the last quarter. City State Bank boosted its position in Principal Financial Group by 28.4% during the second quarter. City State Bank now owns 8,463 shares of the company’s stock worth $565,000 after acquiring an additional 1,872 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Principal Financial Group by 4.2% during the second quarter. Legal & General Group Plc now owns 2,012,402 shares of the company’s stock worth $134,409,000 after acquiring an additional 80,219 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Down 0.8 %

Shares of PFG stock opened at $76.84 on Wednesday. Principal Financial Group has a 12 month low of $61.04 and a 12 month high of $80.36. The firm has a market cap of $19.15 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 2.02 and a beta of 1.30. The stock has a 50 day moving average of $74.03 and a 200-day moving average of $69.42. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.39.

Principal Financial Group (NASDAQ:PFGGet Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Principal Financial Group had a return on equity of 13.09% and a net margin of 24.69%. On average, equities analysts predict that Principal Financial Group will post 6.43 EPS for the current year.

Principal Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 8th will be given a dividend of $0.64 per share. The ex-dividend date is Wednesday, September 7th. This represents a $2.56 annualized dividend and a yield of 3.33%. Principal Financial Group’s payout ratio is 15.56%.

About Principal Financial Group

(Get Rating)

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.

Further Reading

Analyst Recommendations for Principal Financial Group (NASDAQ:PFG)

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