Royal Bank Of Canada Raises Principal Financial Group Inc. (PFG) Price Target to $61.00
Principal Financial Group Inc. (NYSE:PFG) had its target price boosted by stock analysts at Royal Bank Of Canada from $52.00 to $61.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 6.79% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 25th. Stifel Nicolaus upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Sunday, July 31st. RBC Capital Markets set a $52.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a research note on Friday, August 19th. Barclays PLC increased their target price on shares of Principal Financial Group from $41.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. Finally, Deutsche Bank AG set a $48.00 target price on shares of Principal Financial Group and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $49.64.
Principal Financial Group (NYSE:PFG) opened at 57.12 on Thursday. The company has a market capitalization of $16.43 billion, a price-to-earnings ratio of 13.39 and a beta of 1.68. Principal Financial Group has a one year low of $33.09 and a one year high of $58.85. The company has a 50-day moving average price of $53.54 and a 200-day moving average price of $47.13.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 27th. The company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.03. Principal Financial Group had a net margin of 10.63% and a return on equity of 12.34%. During the same period in the previous year, the firm earned $1.06 earnings per share. Equities research analysts anticipate that Principal Financial Group will post $4.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 27th. Investors of record on Monday, December 5th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.41. Principal Financial Group’s dividend payout ratio (DPR) is currently 38.41%.
In related news, EVP Gary P. Scholten sold 13,000 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $58.00, for a total value of $754,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Karen E. Shaff sold 12,832 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $55.00, for a total transaction of $705,760.00. The disclosure for this sale can be found here. 1.78% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Americafirst Capital Management LLC bought a new stake in Principal Financial Group during the second quarter valued at approximately $100,000. Acrospire Investment Management LLC boosted its stake in Principal Financial Group by 17.4% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock valued at $111,000 after buying an additional 400 shares in the last quarter. Virtus Investment Advisers Inc. bought a new stake in Principal Financial Group during the third quarter valued at approximately $114,000. Cascade Investment Advisors Inc. bought a new stake in Principal Financial Group during the second quarter valued at approximately $121,000. Finally, Huntington National Bank boosted its stake in Principal Financial Group by 17.9% in the third quarter. Huntington National Bank now owns 2,493 shares of the company’s stock valued at $129,000 after buying an additional 378 shares in the last quarter. 67.25% of the stock is currently owned by institutional investors and hedge funds.
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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.
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