Principal Financial Group (PFG) Upgraded to Neutral by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Principal Financial Group (NYSE:PFG) from an underweight rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $70.00 price objective on the financial services provider’s stock.

A number of other research firms have also weighed in on PFG. Wells Fargo & Co restated a market perform rating and set a $76.00 price target on shares of Principal Financial Group in a research report on Monday, January 8th. Goldman Sachs Group initiated coverage on shares of Principal Financial Group in a research report on Wednesday, October 18th. They set a neutral rating and a $70.00 price target on the stock. Zacks Investment Research lowered shares of Principal Financial Group from a buy rating to a hold rating in a research report on Monday, January 22nd. Morgan Stanley lowered their price target on shares of Principal Financial Group from $80.00 to $79.00 and set an equal weight rating on the stock in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $73.00 price target on shares of Principal Financial Group in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Principal Financial Group has an average rating of Hold and a consensus price target of $73.56.

Shares of Principal Financial Group (NYSE:PFG) opened at $62.87 on Monday. Principal Financial Group has a 52-week low of $59.25 and a 52-week high of $75.58. The stock has a market cap of $18,150.00, a PE ratio of 7.98, a PEG ratio of 1.35 and a beta of 1.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.18). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the business earned $1.27 EPS. sell-side analysts forecast that Principal Financial Group will post 5.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.24%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 2nd. Principal Financial Group’s payout ratio is presently 24.87%.

In other Principal Financial Group news, Chairman Daniel Joseph Houston sold 19,856 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $72.02, for a total value of $1,430,029.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Deanna D. Strable-Soethout sold 18,905 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $70.07, for a total transaction of $1,324,673.35. The disclosure for this sale can be found here. Insiders sold a total of 301,958 shares of company stock worth $21,343,156 over the last quarter. 1.50% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of PFG. Resources Investment Advisors Inc. boosted its holdings in Principal Financial Group by 268.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 2,184 shares during the last quarter. Avestar Capital LLC acquired a new position in Principal Financial Group in the 4th quarter valued at about $169,000. Tower Research Capital LLC TRC acquired a new position in Principal Financial Group in the 4th quarter valued at about $174,000. Acadian Asset Management LLC boosted its holdings in Principal Financial Group by 215.0% in the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,782 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in Principal Financial Group in the 2nd quarter valued at about $210,000. Institutional investors own 68.64% of the company’s stock.

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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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