Equities research analysts at Goldman Sachs Group, Inc. (The) initiated coverage on shares of Principal Financial Group Inc (NYSE:PFG) in a research note issued on Wednesday, October 18th. The firm set a “neutral” rating and a $70.00 price target on the financial services provider’s stock. Goldman Sachs Group, Inc. (The)’s price target points to a potential upside of 2.64% from the company’s current price.
A number of other research analysts have also issued reports on PFG. Royal Bank Of Canada restated a “buy” rating and set a $74.00 price target on shares of Principal Financial Group in a research note on Wednesday, September 6th. BidaskClub downgraded shares of Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $68.00 price target on shares of Principal Financial Group in a report on Thursday, August 3rd. Finally, Morgan Stanley upped their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $67.40.
Principal Financial Group (PFG) opened at 68.20 on Wednesday. The company has a market capitalization of $19.71 billion, a PE ratio of 15.50 and a beta of 1.67. The stock has a 50 day moving average price of $64.88 and a 200-day moving average price of $64.34. Principal Financial Group has a 52 week low of $52.67 and a 52 week high of $68.90.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.02). Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter in the prior year, the business posted $1.15 EPS. On average, equities analysts predict that Principal Financial Group will post $5.21 earnings per share for the current fiscal year.
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In other Principal Financial Group news, insider Nora Mary Everett sold 12,398 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total transaction of $843,064.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Mccaughan sold 60,814 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $62.10, for a total transaction of $3,776,549.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,354 shares of company stock worth $13,387,478. 1.50% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Sun Life Financial INC boosted its position in shares of Principal Financial Group by 21,822.2% in the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,964 shares in the last quarter. Jacobi Capital Management LLC boosted its position in shares of Principal Financial Group by 291.1% in the 1st quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after buying an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Principal Financial Group in the 1st quarter worth about $202,000. Eagle Global Advisors LLC purchased a new stake in shares of Principal Financial Group in the 2nd quarter worth about $207,000. Finally, Lowe Brockenbrough & Co. Inc. purchased a new stake in shares of Principal Financial Group in the 1st quarter worth about $211,000. Institutional investors and hedge funds own 68.17% of the company’s stock.
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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