Principal Financial Group Inc (NYSE:PFG) has earned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $57.29.
PFG has been the topic of several research reports. Barclays set a $66.00 target price on Principal Financial Group and gave the stock a “buy” rating in a research note on Monday, August 12th. Morgan Stanley decreased their target price on Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. Finally, Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Tuesday, July 2nd.
PFG traded down $0.11 during mid-day trading on Wednesday, hitting $56.44. 42,797 shares of the stock were exchanged, compared to its average volume of 1,443,472. The firm’s fifty day moving average is $54.56 and its two-hundred day moving average is $55.08. Principal Financial Group has a 1-year low of $40.42 and a 1-year high of $61.12.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be given a $0.55 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $2.20 dividend on an annualized basis and a yield of 3.90%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.54.
In other news, EVP Julia M. Lawler sold 1,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.95, for a total value of $52,950.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Luis E. Valdes sold 11,829 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.54, for a total value of $704,298.66. The disclosure for this sale can be found here. Insiders sold a total of 14,829 shares of company stock worth $873,779 in the last ninety days. 1.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio grew its stake in Principal Financial Group by 390.3% during the 2nd quarter. Strs Ohio now owns 18,035 shares of the financial services provider’s stock worth $1,044,000 after buying an additional 14,357 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Principal Financial Group by 35.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,830 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 745 shares during the period. US Bancorp DE lifted its holdings in shares of Principal Financial Group by 7.7% in the 1st quarter. US Bancorp DE now owns 74,059 shares of the financial services provider’s stock valued at $3,717,000 after buying an additional 5,266 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Principal Financial Group by 71.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,517 shares of the financial services provider’s stock valued at $3,804,000 after buying an additional 28,199 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Principal Financial Group by 9.9% during the second quarter. BNP Paribas Arbitrage SA now owns 145,592 shares of the financial services provider’s stock worth $8,433,000 after purchasing an additional 13,114 shares during the last quarter. Hedge funds and other institutional investors 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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