Principal Financial Group (NYSE:PFG)‘s stock had its “market perform” rating reiterated by research analysts at Wells Fargo & Co in a research note issued on Monday, January 8th, Marketbeat.com reports. They currently have a $76.00 price objective on the financial services provider’s stock. Wells Fargo & Co’s price target would indicate a potential upside of 14.54% from the stock’s previous close.
The analysts wrote, “We are lowering our investment rating on PFG to Market Perform from Outperform. The thesis laid out in our 2016 resumption of coverage note: PFG: Resuming Coverage With An Outperform Rating; Ring The Bell has largely played out: the stock’s valuation has reflected the relative growth in earnings derived from PFG’s niche of fee-based businesses, aided by healthy equity market performance.””
PFG has been the topic of several other reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 price target on shares of Principal Financial Group in a report on Monday, December 11th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Thursday, January 4th. Goldman Sachs Group initiated coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $71.00.
Principal Financial Group (NYSE:PFG) opened at $66.35 on Monday. The company has a market cap of $18,570.00, a P/E ratio of 10.88, a P/E/G ratio of 1.35 and a beta of 1.58. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group has a 12 month low of $58.63 and a 12 month high of $75.58.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.18). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the company posted $1.27 earnings per share. analysts forecast that Principal Financial Group will post 5.22 EPS for the current fiscal year.
In other news, Chairman Daniel Joseph Houston sold 69,894 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary P. Scholten sold 24,310 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $71.59, for a total transaction of $1,740,352.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,958 shares of company stock valued at $21,343,156. 1.50% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. BerganKDV Wealth Management LLC purchased a new position in Principal Financial Group in the 3rd quarter valued at approximately $384,000. AMP Capital Investors Ltd lifted its position in shares of Principal Financial Group by 4.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 183,893 shares of the financial services provider’s stock worth $11,831,000 after purchasing an additional 7,492 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth $268,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Principal Financial Group by 18.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 588,719 shares of the financial services provider’s stock worth $37,877,000 after purchasing an additional 92,391 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Principal Financial Group by 6,656.1% during the 2nd quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock worth $193,529,000 after purchasing an additional 2,975,888 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.
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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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