Barclays Increases Principal Financial Group Price Target to $52.00 (PFG)
Equities researchers at Barclays raised their target price on shares of Principal Financial Group (NYSE:PFG) from $44.00 to $52.00 in a research report issued on Tuesday, Analyst Ratings Net reports. The firm currently has an “equal weight” rating on the stock. Barclays’ target price suggests a potential upside of 6.10% from the company’s current price.
In other Principal Financial Group news, Insider James Mccaughan sold 31,560 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $48.60, for a total value of $1,533,816.00. Following the completion of the transaction, the insider now directly owns 192,669 shares in the company, valued at approximately $9,363,713. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Principal Financial Group in a research note to investors on Friday, December 13th. They now have a $51.00 price target on the stock. Separately, analysts at Scotiabank downgraded shares of Principal Financial Group from a “sector perform” rating to an “underperform” rating in a research note to investors on Friday, November 22nd. They now have a $45.00 price target on the stock, up previously from $42.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Principal Financial Group in a research note to investors on Friday, November 15th. They now have a $52.00 price target on the stock, up previously from $50.00. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.27.
Shares of Principal Financial Group (NYSE:PFG) traded up 0.33% during mid-day trading on Tuesday, hitting $49.17. 643,503 shares of the company’s stock traded hands. Principal Financial Group has a one year low of $28.75 and a one year high of $50.97. The stock has a 50-day moving average of $49.22 and a 200-day moving average of $44.36. The company has a market cap of $14.474 billion and a P/E ratio of 16.95.
Principal Financial Group (NYSE:PFG) last released its earnings data on Thursday, October 24th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. On average, analysts predict that Principal Financial Group will post $3.53 earnings per share for the current fiscal year.
Principal Financial Group, Inc (NYSE:PFG) is a provider of retirement savings, investment and insurance products and services.
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