Principal Financial Group Inc (PFG) Earns Buy Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their buy rating on shares of Principal Financial Group Inc (NYSE:PFG) in a research note released on Wednesday, September 6th. The firm currently has a $74.00 price objective on the financial services provider’s stock.

Several other equities analysts also recently weighed in on PFG. Wells Fargo & Company reissued a buy rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Barclays PLC raised their price target on 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. Keefe, Bruyette & Woods reissued a hold rating and set a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. BidaskClub cut Principal Financial Group from a buy rating to a hold rating in a report on Friday, August 4th. Finally, Zacks Investment Research cut Principal Financial Group from a buy rating to a hold rating in a report on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $61.78.

Principal Financial Group (NYSE:PFG) traded up 0.81% on Wednesday, reaching $62.51. The company’s stock had a trading volume of 1,364,396 shares. Principal Financial Group has a 12-month low of $48.58 and a 12-month high of $67.73. The firm has a 50-day moving average of $63.82 and a 200 day moving average of $63.76. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 14.21 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same period in the prior year, the business posted $1.15 EPS. On average, equities research analysts anticipate that Principal Financial Group will post $5.19 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.47 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, August 30th. Principal Financial Group’s payout ratio is currently 42.73%.

In other news, EVP Karen E. Shaff sold 30,500 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $65.00, for a total transaction of $1,982,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James P. Mccaughan sold 6,193 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $62.33, for a total value of $386,009.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,925 shares of company stock valued at $18,513,769. 1.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PFG. BlackRock Inc. increased its holdings in shares of Principal Financial Group by 2,276.3% in the first quarter. BlackRock Inc. now owns 17,714,618 shares of the financial services provider’s stock valued at $1,117,969,000 after buying an additional 16,969,140 shares in the last quarter. Janus Henderson Group PLC increased its holdings 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 valued at $193,529,000 after buying an additional 2,975,888 shares in the last quarter. Janus Capital Management LLC increased its holdings in shares of Principal Financial Group by 399.3% in the first quarter. Janus Capital Management LLC now owns 2,379,858 shares of the financial services provider’s stock valued at $150,193,000 after buying an additional 1,903,190 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Principal Financial Group by 6.7% in the first quarter. Vanguard Group Inc. now owns 29,649,875 shares of the financial services provider’s stock valued at $1,871,204,000 after buying an additional 1,862,125 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Principal Financial Group by 1,613.5% in the second quarter. Nordea Investment Management AB now owns 668,624 shares of the financial services provider’s stock valued at $42,839,000 after buying an additional 629,604 shares in the last quarter. 68.19% of the stock is currently owned by 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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