Principal Financial Group (NYSE:PFG) was upgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday, January 9th, Marketbeat reports.
Other equities analysts have also issued research reports about the company. Wells Fargo & Co set a $79.00 price objective on Principal Financial Group and gave the stock a “buy” rating in a research note on Thursday, December 7th. Zacks Investment Research lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 price target on shares of Principal Financial Group in a research note on Monday, December 11th. Finally, Morgan Stanley increased their price target on 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $71.00.
Principal Financial Group (NYSE:PFG) traded down $2.11 during midday trading on Tuesday, hitting $66.35. The stock had a trading volume of 1,315,545 shares, compared to its average volume of 1,190,000. The company has a market capitalization of $18,570.00, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group has a 1 year low of $58.63 and a 1 year high of $75.58.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.18). The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.32 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period last year, the company earned $1.27 EPS. sell-side analysts forecast that Principal Financial Group will post 5.22 earnings per share for the current fiscal year.
In other news, CEO Daniel Joseph Houston sold 37,080 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $70.05, for a total value of $2,597,454.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gary P. Scholten sold 24,310 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $71.59, for a total value of $1,740,352.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,958 shares of company stock valued at $21,343,156. 1.50% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Principal Financial Group by 14,739.8% in the 4th quarter. American Century Companies Inc. now owns 836,964 shares of the financial services provider’s stock valued at $59,056,000 after purchasing an additional 831,324 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Principal Financial Group by 3.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 56,290 shares of the financial services provider’s stock valued at $3,972,000 after purchasing an additional 1,700 shares during the last quarter. Everence Capital Management Inc. lifted its stake in shares of Principal Financial Group by 16.8% in the 4th quarter. Everence Capital Management Inc. now owns 7,591 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 1,091 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $245,000. Finally, Aperio Group LLC lifted its stake in shares of Principal Financial Group by 1.0% in the 4th quarter. Aperio Group LLC now owns 204,085 shares of the financial services provider’s stock valued at $14,400,000 after purchasing an additional 1,933 shares during the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.
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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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