Shares of Principal Financial Group Inc (NYSE:PFG) have received an average recommendation of “Hold” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $57.88.

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 12th. BidaskClub raised shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Finally, Deutsche Bank AG upped their price objective on shares of Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th.

Shares of Principal Financial Group (PFG) traded up 0.54% during trading on Monday, hitting $66.46. 316,230 shares of the stock were exchanged. The firm’s 50 day moving average price is $63.41 and its 200-day moving average price is $61.84. The stock has a market cap of $19.15 billion, a P/E ratio of 14.97 and a beta of 1.65. Principal Financial Group has a 52 week low of $43.79 and a 52 week high of $66.47.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.08. Principal Financial Group had a net margin of 10.37% and a return on equity of 13.35%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the company posted $0.97 EPS. On average, analysts predict that Principal Financial Group will post $5.05 EPS for the current year.

Principal Financial Group declared that its board has authorized a share repurchase plan on Wednesday, May 17th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 5th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, June 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 2.78%. Principal Financial Group’s dividend payout ratio is currently 41.44%.

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In other Principal Financial Group news, insider James P. Mccaughan sold 65,818 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $63.53, for a total value of $4,181,417.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Gregory Bernard Elming sold 30,707 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $64.20, for a total transaction of $1,971,389.40. The disclosure for this sale can be found here. Insiders sold 405,712 shares of company stock worth $26,067,155 over the last ninety days. Insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFG. Private Advisor Group LLC raised its position in Principal Financial Group by 1.1% in the first quarter. Private Advisor Group LLC now owns 3,643 shares of the financial services provider’s stock worth $228,000 after buying an additional 40 shares during the period. Foster & Motley Inc. raised its position in Principal Financial Group by 1.3% in the first quarter. Foster & Motley Inc. now owns 3,674 shares of the financial services provider’s stock worth $232,000 after buying an additional 47 shares during the period. CENTRAL TRUST Co raised its position in Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares during the period. Cleararc Capital Inc. raised its position in Principal Financial Group by 0.9% in the first quarter. Cleararc Capital Inc. now owns 6,546 shares of the financial services provider’s stock worth $413,000 after buying an additional 60 shares during the period. Finally, Independent Advisor Alliance raised its position in Principal Financial Group by 1.3% in the first quarter. Independent Advisor Alliance now owns 6,240 shares of the financial services provider’s stock worth $388,000 after buying an additional 82 shares during the period. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Company Profile

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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