Principal Financial Group (NASDAQ:PFG) Now Covered by Analysts at Raymond James

Raymond James began coverage on shares of Principal Financial Group (NASDAQ:PFGGet Rating) in a research report sent to investors on Wednesday, The Fly reports. The firm issued a market perform rating on the stock.

Several other equities research analysts have also commented on PFG. Piper Sandler decreased their price target on Principal Financial Group from $74.00 to $72.00 and set a neutral rating on the stock in a research note on Friday, July 8th. Royal Bank of Canada decreased their price target on Principal Financial Group from $79.00 to $70.00 in a research note on Monday, July 11th. Jefferies Financial Group upped their target price on Principal Financial Group from $56.00 to $60.00 and gave the company an underperform rating in a research note on Thursday, September 8th. Barclays upped their target price on Principal Financial Group to $81.00 in a research note on Monday, August 15th. Finally, Evercore ISI upped their target price on Principal Financial Group to $76.00 in a research note on Monday, August 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $71.82.

Principal Financial Group Stock Performance

NASDAQ PFG opened at $76.06 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $74.26 and its two-hundred day moving average is $69.46. Principal Financial Group has a 12-month low of $61.05 and a 12-month high of $80.36. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 2.03 and a beta of 1.30.

Principal Financial Group (NASDAQ:PFGGet Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.39 by $0.26. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.24 billion. Principal Financial Group had a return on equity of 13.09% and a net margin of 24.69%. Research analysts expect that Principal Financial Group will post 6.43 EPS for the current year.

Principal Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 8th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Wednesday, September 7th. Principal Financial Group’s dividend payout ratio is presently 15.56%.

Insider Transactions at Principal Financial Group

In related news, Director Sandra L. Helton sold 15,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $72.90, for a total value of $1,093,500.00. Following the completion of the sale, the director now directly owns 32,278 shares in the company, valued at approximately $2,353,066.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Sandra L. Helton sold 15,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $72.90, for a total value of $1,093,500.00. Following the completion of the sale, the director now directly owns 32,278 shares in the company, valued at approximately $2,353,066.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wee Yee Cheong sold 2,447 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total value of $191,967.15. Following the completion of the sale, the executive vice president now owns 34,700 shares of the company’s stock, valued at $2,722,215. The disclosure for this sale can be found here. Insiders sold a total of 45,422 shares of company stock worth $3,462,066 in the last ninety days. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its position in Principal Financial Group by 6.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 16,495 shares of the company’s stock valued at $1,211,000 after buying an additional 1,012 shares during the last quarter. Riverview Trust Co bought a new position in shares of Principal Financial Group during the first quarter worth about $29,000. Cetera Advisor Networks LLC lifted its position in shares of Principal Financial Group by 28.4% during the first quarter. Cetera Advisor Networks LLC now owns 12,872 shares of the company’s stock worth $945,000 after purchasing an additional 2,844 shares during the last quarter. MCF Advisors LLC bought a new position in shares of Principal Financial Group during the first quarter worth about $32,000. Finally, City State Bank bought a new position in shares of Principal Financial Group during the fourth quarter worth about $639,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Company Profile

(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.

Featured Articles

The Fly logo

Analyst Recommendations for Principal Financial Group (NASDAQ:PFG)

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.