Credit Suisse Group AG began coverage on shares of Principal Financial Group Inc. (NYSE:PFG) in a research note issued to investors on Friday. The firm issued an underperform rating and a $53.00 price objective on the stock.
Several other equities research analysts also recently weighed in on PFG. Deutsche Bank AG reduced their price target on Principal Financial Group from $46.00 to $43.00 and set a hold rating on the stock in a report on Thursday, July 7th. Zacks Investment Research upgraded Principal Financial Group from a sell rating to a hold rating and set a $50.00 price target on the stock in a report on Monday, July 18th. RBC Capital Markets set a $52.00 price target on Principal Financial Group and gave the stock a buy rating in a report on Friday, August 19th. Goldman Sachs Group Inc. increased their price target on Principal Financial Group from $40.00 to $45.00 and gave the stock a sell rating in a report on Friday, September 23rd. Finally, Barclays PLC increased their price target on Principal Financial Group from $41.00 to $47.00 and gave the stock an equal weight rating in a report on Friday, July 29th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Principal Financial Group currently has an average rating of Hold and an average price target of $48.73.
Shares of Principal Financial Group (NYSE:PFG) opened at 52.50 on Friday. The company has a 50-day moving average price of $49.76 and a 200 day moving average price of $44.73. The company has a market capitalization of $15.10 billion, a PE ratio of 12.48 and a beta of 1.66. Principal Financial Group has a one year low of $33.09 and a one year high of $52.93.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same period in the prior year, the business earned $1.09 EPS. Equities analysts anticipate that Principal Financial Group will post $4.37 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were given a $0.41 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.12%. Principal Financial Group’s dividend payout ratio (DPR) is presently 38.86%.
In other news, EVP Timothy Mark Dunbar sold 5,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $52.00, for a total value of $260,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.78% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Americafirst Capital Management LLC acquired a new stake in Principal Financial Group during the second quarter worth $100,000. Acrospire Investment Management LLC boosted its stake in shares of Principal Financial Group by 17.4% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock worth $111,000 after buying an additional 400 shares in the last quarter. Cascade Investment Advisors Inc. purchased a new stake in shares of Principal Financial Group during the second quarter worth approximately $121,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Principal Financial Group by 17.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,248 shares of the company’s stock worth $133,000 after buying an additional 488 shares in the last quarter. Finally, Washington Trust Bank boosted its stake in shares of Principal Financial Group by 0.9% in the third quarter. Washington Trust Bank now owns 2,721 shares of the company’s stock worth $140,000 after buying an additional 25 shares in the last quarter. 67.13% of the stock is owned by hedge funds and other institutional investors.
About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.
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