Principal Financial Group Hits New 52-Week High at $54.54 (PFG)
Principal Financial Group (NYSE:PFG) reached a new 52-week high on Friday , American Banking and Market News reports. The stock traded as high as $54.54 and last traded at $54.37, with a volume of 308,129 shares traded. The stock had previously closed at $53.93.
PFG has been the subject of a number of recent research reports. Analysts at Barclays initiated coverage on shares of Principal Financial Group in a research note on Thursday. They set an “equal weight” rating on the stock. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $52.55.
The stock has a 50-day moving average of $51.52 and a 200-day moving average of $48.00. The company has a market cap of $15.956 billion and a P/E ratio of 15.07.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.97 earnings per share. The company’s revenue for the quarter 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 announced a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.52%. The ex-dividend date 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, Insider Daniel Joseph Houston unloaded 20,575 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $54.00, for a total value of $1,111,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Principal Financial Group, Inc (NYSE:PFG) is a provider of retirement savings, investment and insurance products and services.
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