Investment analysts at Goldman Sachs Group, Inc. (The) started coverage on shares of Principal Financial Group Inc (NYSE:PFG) in a note issued to investors on Wednesday. The brokerage set a “neutral” rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price objective on the stock in a research report on Monday, October 2nd. Royal Bank Of Canada reissued a “buy” rating and set a $74.00 price objective on shares of Principal Financial Group in a research report on Wednesday, September 6th. BidaskClub cut shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Barclays PLC increased 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 report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $66.00.

Shares of Principal Financial Group (PFG) opened at 67.57 on Wednesday. Principal Financial Group has a one year low of $52.08 and a one year high of $67.95. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 15.36 and a beta of 1.67. The stock has a 50 day moving average price of $63.78 and a 200-day moving average price of $64.06.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.09. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same quarter in the prior year, the firm earned $1.15 EPS. On average, equities research analysts expect that Principal Financial Group will post $5.19 EPS for the current year.

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In other Principal Financial Group news, insider James P. Mccaughan sold 60,817 shares of Principal Financial Group 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gary P. Scholten sold 13,495 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total transaction of $904,165.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,272 shares of company stock worth $9,696,407. Insiders own 1.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Cookson Peirce & Co. Inc. lifted its position in shares of Principal Financial Group by 0.8% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock worth $427,000 after buying an additional 50 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Principal Financial Group by 29.8% during the 2nd quarter. Advisory Services Network LLC now owns 11,463 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 2,635 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $659,000. Koch Industries Inc. purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $210,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $539,000. 68.18% of the stock is currently owned by hedge funds and other institutional investors.

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. 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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