Principal Financial Group Given Average Rating of “Hold” by Analysts (NYSE:PFG)
Principal Financial Group (NYSE:PFG) has received a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the company, AR Network reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $52.55.
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.
In other Principal Financial Group news, Insider Daniel Joseph Houston unloaded 20,575 shares of the company’s stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $54.00, for a total value of $1,111,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Principal Financial Group (NYSE:PFG) opened at 54.29 on Wednesday. Principal Financial Group has a one year low of $41.05 and a one year high of $54.54. The stock’s 50-day moving average is $51.61 and its 200-day moving average is $48.08. 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 earnings data on Thursday, July 24th. The company reported $1.08 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.97 earnings per share. Principal Financial Group’s revenue was up 10.0% compared to the same quarter last year. 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. Stockholders 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 2.51%. The ex-dividend date is Thursday, September 4th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.32.
Principal Financial Group, Inc (NYSE:PFG) is a provider of retirement savings, investment and insurance products and services.
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