Principal Financial Group Given Average Recommendation of “Hold” by Brokerages (NYSE:PFG)
Shares of Principal Financial Group (NYSE:PFG) have earned an average rating of “Hold” from the fifteen ratings firms that are covering the stock, StockRatingsNetwork.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $52.50.
Principal Financial Group (NYSE:PFG) traded up 0.22% during mid-day trading on Wednesday, hitting $54.19. 62,603 shares of the company’s stock traded hands. Principal Financial Group has a one year low of $40.29 and a one year high of $54.17. The stock’s 50-day moving average is $51.37 and its 200-day moving average is $47.91. The company has a market cap of $15.927 billion and a price-to-earnings ratio of 15.11.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.00 by $0.08. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts expect that Principal Financial Group will post $4.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Monday, September 8th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.32.
In other Principal Financial Group news, EVP Karen E. Shaff sold 54,430 shares of Principal Financial Group stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $53.09, for a total transaction of $2,889,688.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Principal Financial Group in a research note on Tuesday, July 29th. They now have a $57.00 price target on the stock, up previously from $56.00. Separately, analysts at Credit Suisse set a $54.00 price target on shares of Principal Financial Group in a research note on Friday, July 25th. They now have a “neutral” rating on the stock. Finally, analysts at Sterne Agee reiterated a “neutral” rating on shares of Principal Financial Group in a research note on Thursday, July 17th. They now have a $56.00 price target on the stock, up previously from $55.00.
Principal Financial Group, Inc (NYSE:PFG) is a provider of retirement savings, investment and insurance products and services.
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