Principal Financial Group Inc. (NYSE:PFG)‘s stock had its “buy” rating reaffirmed by equities research analysts at RBC Capital Markets in a report issued on Thursday. They presently have a $61.00 price objective on the stock, up from their prior price objective of $52.00. RBC Capital Markets’ price target points to a potential upside of 5.79% from the company’s current price.

Several other brokerages also recently commented on PFG. Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Stifel Nicolaus raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Sunday, July 31st. Deutsche Bank AG set a $48.00 price target on Principal Financial Group and gave the company a “hold” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. reissued a “sell” rating and set a $46.00 price target on shares of Principal Financial Group in a research report on Friday, July 29th. Finally, Credit Suisse Group AG assumed coverage on Principal Financial Group in a research report on Friday, October 7th. They set an “underperform” rating and a $53.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.00.

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

Principal Financial Group (NYSE:PFG) opened at 57.66 on Thursday. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of 13.52 and a beta of 1.68. Principal Financial Group has a 52-week low of $33.09 and a 52-week high of $58.09. The company’s 50-day moving average price is $52.92 and its 200 day moving average price is $46.80.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, October 27th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Principal Financial Group had a return on equity of 12.34% and a net margin of 10.63%. During the same quarter in the prior year, the business earned $1.06 earnings per share. Equities research analysts predict that Principal Financial Group will post $4.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 27th. Investors of record on Monday, December 5th will be paid a dividend of $0.43 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $1.72 annualized dividend and a yield of 2.98%. Principal Financial Group’s dividend payout ratio is presently 38.41%.

In related news, EVP Gary P. Scholten sold 13,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $58.00, for a total transaction of $754,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Mark Dunbar sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $52.00, for a total value of $260,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.78% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. increased its stake in shares of Principal Financial Group by 58.2% in the third quarter. D.A. Davidson & CO. now owns 109,259 shares of the company’s stock valued at $5,627,000 after buying an additional 40,197 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Principal Financial Group during the third quarter valued at $600,000. Price T Rowe Associates Inc. MD increased its stake in shares of Principal Financial Group by 5.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 528,836 shares of the company’s stock valued at $27,240,000 after buying an additional 28,710 shares during the last quarter. OLD Republic International Corp increased its stake in shares of Principal Financial Group by 122.0% in the third quarter. OLD Republic International Corp now owns 555,000 shares of the company’s stock valued at $23,815,000 after buying an additional 305,000 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Principal Financial Group by 22.9% in the third quarter. LPL Financial LLC now owns 20,572 shares of the company’s stock valued at $1,053,000 after buying an additional 3,827 shares during the last quarter. Hedge funds and other institutional investors own 67.25% 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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.

5 Day Chart for NYSE:PFG

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