Principal Financial Group Inc (NYSE:PFG) has been given a $76.00 price target by analysts at Wells Fargo & Company in a research note issued to investors on Wednesday, October 18th. The brokerage presently has a “buy” rating on the financial services provider’s stock. Wells Fargo & Company’s price target points to a potential upside of 11.60% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research note on Wednesday, July 12th. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Morgan Stanley boosted their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, Barclays PLC boosted their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.40.
Shares of Principal Financial Group (PFG) traded down 0.15% during mid-day trading on Wednesday, hitting $68.10. The company had a trading volume of 1,270,064 shares. The firm has a market cap of $19.68 billion, a PE ratio of 15.48 and a beta of 1.67. Principal Financial Group has a 12-month low of $52.67 and a 12-month high of $69.20. The firm’s 50 day moving average is $65.30 and its 200-day moving average is $64.41.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a return on equity of 11.40% and a net margin of 9.86%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the company posted $1.15 earnings per share. On average, equities analysts expect that Principal Financial Group will post $5.21 EPS for the current year.
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In other news, EVP Karen E. Shaff sold 17,082 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $1,161,576.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Mccaughan sold 60,817 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $66.98, for a total transaction of $4,073,522.66. The disclosure for this sale can be found here. Insiders sold a total of 204,354 shares of company stock worth $13,387,478 over the last quarter. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PFG. Sun Life Financial INC grew its holdings in shares of 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 valued at $126,000 after purchasing an additional 1,964 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Principal Financial Group by 291.1% during the 1st quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Principal Financial Group during the 1st quarter valued at $202,000. Eagle Global Advisors LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $207,000. Finally, Koch Industries Inc. bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $210,000. 68.17% of the stock is currently owned by institutional investors.
Principal Financial Group Company Profile
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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