Principal Financial Group Downgraded to “Market Perform” at Raymond James (PFG)
Principal Financial Group (NYSE:PFG) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Principal Financial Group in a research note to investors on Monday, September 16th. They now have a $43.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Principal Financial Group from $42.00 to $47.00 in a research note to investors on Monday, September 16th. They now have an “outperform” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Principal Financial Group from $38.00 to $42.00 in a research note to investors on Friday, August 16th. They now have a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $40.40.
Principal Financial Group (NYSE:PFG) traded up 0.66% during mid-day trading on Wednesday, hitting $44.20. 106,193 shares of the company’s stock traded hands. Principal Financial Group has a 52-week low of $25.83 and a 52-week high of $44.94. The stock has a 50-day moving average of $42.80 and a 200-day moving average of $39.45. The company has a market cap of $13.010 billion and a price-to-earnings ratio of 16.26.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.83 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company posted $0.72 earnings per share. Principal Financial Group’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that Principal Financial Group will post $3.46 EPS for the current fiscal year.
Principal Financial Group, Inc (NYSE:PFG) is a provider of retirement savings, investment and insurance products and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.