Several other research analysts have also recently weighed in on PFG. Keefe, Bruyette & Woods reiterated a hold rating and set a $73.00 price objective on shares of Principal Financial Group in a research report on Monday, December 11th. Zacks Investment Research upgraded Principal Financial Group from a hold rating to a buy rating and set a $79.00 price objective on the stock in a research report on Thursday, January 4th. Goldman Sachs upgraded Principal Financial Group from a neutral rating to a buy rating in a research report on Tuesday, January 9th. Morgan Stanley decreased their price target on Principal Financial Group from $80.00 to $79.00 and set an equal weight rating on the stock in a research report on Tuesday, January 30th. Finally, JPMorgan Chase upgraded Principal Financial Group from an underweight rating to a neutral rating and set a $70.00 price target on the stock in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $71.45.
PFG stock traded down $0.82 during trading hours on Tuesday, hitting $60.49. 316,095 shares of the stock were exchanged, compared to its average volume of 1,628,145. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group has a 12 month low of $57.62 and a 12 month high of $75.58.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 5th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49.
In other Principal Financial Group news, Chairman Daniel Joseph Houston sold 19,856 shares of Principal Financial Group stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $72.02, for a total value of $1,430,029.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Luis E. Valdes sold 27,662 shares of Principal Financial Group stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $64.02, for a total value of $1,770,921.24. The disclosure for this sale can be found here. Insiders sold 71,828 shares of company stock worth $4,941,303 in the last 90 days. 1.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in PFG. American Century Companies Inc. grew its position in Principal Financial Group by 14,739.8% in the fourth quarter. American Century Companies Inc. now owns 836,964 shares of the financial services provider’s stock valued at $59,056,000 after acquiring an additional 831,324 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Principal Financial Group by 174.6% during the fourth quarter. Millennium Management LLC now owns 942,848 shares of the financial services provider’s stock valued at $66,527,000 after purchasing an additional 599,491 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Principal Financial Group during the fourth quarter valued at about $35,087,000. Martingale Asset Management L P boosted its stake in shares of Principal Financial Group by 702.0% during the fourth quarter. Martingale Asset Management L P now owns 560,687 shares of the financial services provider’s stock valued at $39,563,000 after purchasing an additional 490,776 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Principal Financial Group by 36.6% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,612,510 shares of the financial services provider’s stock valued at $113,778,000 after purchasing an additional 431,914 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.
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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. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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