Principal Financial Group Inc (NYSE:PFG) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $56.17.

A number of brokerages have recently issued reports on PFG. Morgan Stanley set a $56.00 price objective on shares of Principal Financial Group and gave the company a “hold” rating in a report on Friday, October 25th. UBS Group reduced their price objective on shares of Principal Financial Group from $49.00 to $48.00 and set a “sell” rating for the company in a report on Thursday, October 10th.

Shares of NYSE PFG traded up $1.04 during mid-day trading on Monday, reaching $54.56. 37,041 shares of the company’s stock traded hands, compared to its average volume of 1,323,494. The business has a 50-day simple moving average of $54.68 and a 200 day simple moving average of $55.58. Principal Financial Group has a 1-year low of $40.42 and a 1-year high of $60.81.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.23). During the same quarter in the previous year, the business posted $1.67 EPS.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Monday, December 2nd.

In related news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.63, for a total transaction of $54,630.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,000 shares of company stock worth $166,130. 1.50% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. purchased a new position in Principal Financial Group during the second quarter worth about $25,000. Strategic Blueprint LLC purchased a new position in Principal Financial Group during the third quarter worth about $26,000. Virtus ETF Advisers LLC boosted its holdings in Principal Financial Group by 73.0% during the second quarter. Virtus ETF Advisers LLC now owns 602 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 254 shares during the last quarter. QCI Asset Management Inc. NY boosted its holdings in Principal Financial Group by 620.0% during the second quarter. QCI Asset Management Inc. NY now owns 756 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 651 shares during the last quarter. Finally, Personal Wealth Partners bought a new stake in Principal Financial Group in the second quarter worth about $51,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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