Principal Financial Group Inc. (NYSE:PFG) has been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the company. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $50.38.

Several equities analysts have recently weighed in on PFG shares. Barclays PLC lifted their target price on shares of Principal Financial Group from $51.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, November 17th. RBC Capital Markets reissued a “buy” rating and issued a $61.00 price target (up previously from $52.00) on shares of Principal Financial Group in a report on Thursday, November 17th. Royal Bank Of Canada boosted their price target on shares of Principal Financial Group from $52.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. Wells Fargo & Co. reissued an “outperform” rating on shares of Principal Financial Group in a report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. boosted their price target on shares of Principal Financial Group from $40.00 to $45.00 and gave the stock a “sell” rating in a report on Friday, September 23rd.

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Shares of Principal Financial Group (NYSE:PFG) traded up 0.970% on Wednesday, reaching $57.745. The company had a trading volume of 800,475 shares. The firm has a market capitalization of $16.61 billion, a PE ratio of 13.536 and a beta of 1.68. The company’s 50-day moving average is $54.83 and its 200 day moving average is $47.98. Principal Financial Group has a 12 month low of $33.09 and a 12 month high of $58.85.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analysts forecast that Principal Financial Group will post $4.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 27th. Shareholders of record on Monday, December 5th will be given a $0.43 dividend. The ex-dividend date is Thursday, December 1st. This represents a $1.72 dividend on an annualized basis and a yield of 3.01%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.41. Principal Financial Group’s dividend payout ratio is presently 38.41%.

In other Principal Financial Group news, EVP Gary P. Scholten sold 13,000 shares of the company’s stock in a transaction dated 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 is accessible through this hyperlink. Also, EVP Karen E. Shaff sold 12,832 shares of the company’s stock in a transaction dated 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 company insiders.

Hedge funds have recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of Principal Financial Group by 31.3% in the third quarter. Capital Research Global Investors now owns 8,231,000 shares of the company’s stock valued at $423,979,000 after buying an additional 1,960,000 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Principal Financial Group by 468.6% in the second quarter. Ameriprise Financial Inc. now owns 1,478,864 shares of the company’s stock worth $60,795,000 after buying an additional 1,218,768 shares during the last quarter. FMR LLC raised its position in shares of Principal Financial Group by 15.9% in the second quarter. FMR LLC now owns 5,569,727 shares of the company’s stock valued at $228,971,000 after buying an additional 762,225 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Principal Financial Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 25,604,401 shares of the company’s stock valued at $1,052,596,000 after buying an additional 625,098 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Principal Financial Group during the second quarter valued at approximately $24,322,000. 67.35% of the stock is currently owned by institutional investors and hedge funds.

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 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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