Goldman Sachs Group upgraded shares of Principal Financial Group (NYSE:PFG) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports.
A number of other equities research analysts also recently commented on the company. Morgan Stanley lifted their target price on Principal Financial Group from $67.00 to $72.00 and gave the company an equal weight rating in a research report on Thursday, October 5th. Zacks Investment Research downgraded Principal Financial Group from a buy rating to a hold rating in a research report on Wednesday, November 1st. Wells Fargo & Co set a $79.00 target price on Principal Financial Group and gave the company a buy rating in a research report on Thursday, December 7th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $73.00 target price on shares of Principal Financial Group in a research report on Monday, December 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $68.90.
Shares of Principal Financial Group (NYSE:PFG) opened at $74.21 on Tuesday. Principal Financial Group has a 1 year low of $56.12 and a 1 year high of $74.40. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $21,430.00, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72.
Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. equities research analysts expect that Principal Financial Group will post 5.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Monday, December 4th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, December 1st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s payout ratio is currently 32.13%.
In other Principal Financial Group news, Chairman Daniel Joseph Houston sold 69,894 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $72.01, for a total transaction of $5,033,066.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Deanna D. Strable-Soethout sold 18,905 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $70.07, for a total value of $1,324,673.35. The disclosure for this sale can be found here. Insiders sold a total of 369,535 shares of company stock worth $25,938,392 in the last quarter. Company insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PFG. Sun Life Financial INC increased its holdings in Principal Financial Group by 21,822.2% during the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,964 shares during the period. Koch Industries Inc. purchased a new stake in Principal Financial Group during the 2nd quarter worth about $210,000. First Heartland Consultants Inc. purchased a new stake in Principal Financial Group during the 3rd quarter worth about $224,000. Honkamp Krueger Financial Services Inc. purchased a new stake in Principal Financial Group during the 3rd quarter worth about $226,000. Finally, Private Advisor Group LLC purchased a new stake in Principal Financial Group during the 3rd quarter worth about $255,000. 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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