Principal Financial Group Inc (NYSE:PFG) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

PFG has been the subject of several other research reports. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 12th. Barclays PLC boosted their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 price objective on shares of Principal Financial Group in a research note on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Principal Financial Group currently has a consensus rating of “Hold” and a consensus target price of $61.67.

Principal Financial Group (PFG) opened at 65.01 on Monday. The company has a market cap of $18.79 billion, a P/E ratio of 14.78 and a beta of 1.65. Principal Financial Group has a 52 week low of $46.40 and a 52 week high of $67.73. The firm’s 50 day moving average is $65.65 and its 200-day moving average is $63.47.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the company earned $1.15 EPS. On average, analysts predict that Principal Financial Group will post $5.18 earnings per share for the current fiscal year.

Principal Financial Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 17th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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In other Principal Financial Group news, insider Nora Mary Everett sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $63.52, for a total transaction of $552,624.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Mccaughan sold 60,817 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $66.98, for a total transaction of $4,073,522.66. The disclosure for this sale can be found here. Insiders have sold a total of 345,538 shares of company stock worth $22,435,450 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Principal Financial Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 30,237,096 shares of the financial services provider’s stock worth $1,937,291,000 after buying an additional 587,221 shares during the last quarter. BlackRock Inc. raised its position in shares of Principal Financial Group by 3.3% in the second quarter. BlackRock Inc. now owns 18,306,790 shares of the financial services provider’s stock worth $1,172,916,000 after buying an additional 592,172 shares during the last quarter. State Street Corp raised its position in shares of Principal Financial Group by 0.9% in the first quarter. State Street Corp now owns 13,622,890 shares of the financial services provider’s stock worth $859,745,000 after buying an additional 123,961 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Principal Financial Group by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,734,915 shares of the financial services provider’s stock worth $235,703,000 after buying an additional 84,575 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Principal Financial Group by 6,656.1% in the second quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock worth $193,529,000 after buying an additional 2,975,888 shares during the last quarter. Institutional investors and hedge funds own 70.10% 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. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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