Principal Financial Group Inc (NYSE:PFG)‘s stock had its “buy” rating restated by analysts at Royal Bank Of Canada in a report released on Wednesday. They presently have a $74.00 price target on the financial services provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 21.97% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Barclays PLC boosted their price target on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 price target on shares of Principal Financial Group in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $61.78.

Principal Financial Group (NYSE PFG) traded up 1.25% during midday trading on Wednesday, reaching $60.67. 1,084,742 shares of the company’s stock traded hands. The company has a market capitalization of $17.53 billion, a PE ratio of 13.79 and a beta of 1.66. Principal Financial Group has a 1-year low of $47.56 and a 1-year high of $67.73. The firm’s 50 day moving average price is $64.45 and its 200-day moving average price is $63.78.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business posted $1.15 earnings per share. Equities analysts expect that Principal Financial Group will post $5.18 EPS for the current year.

Principal Financial Group announced that its Board of Directors has initiated a stock 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 buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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In other Principal Financial Group news, EVP Gary P. Scholten sold 21,950 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $65.04, for a total value of $1,427,628.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Gregory Bernard Elming sold 30,707 shares of the company’s stock in a transaction dated 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 340,787 shares of company stock worth $22,034,118 in the last ninety days. Insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PFG. Canada Pension Plan Investment Board raised its position in shares of Principal Financial Group by 172.4% in the first quarter. Canada Pension Plan Investment Board now owns 33,491 shares of the financial services provider’s stock valued at $2,114,000 after buying an additional 21,197 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Principal Financial Group by 123.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 21,404 shares of the financial services provider’s stock valued at $1,406,000 after buying an additional 11,810 shares during the last quarter. Girard Partners LTD. raised its position in shares of Principal Financial Group by 37.0% in the first quarter. Girard Partners LTD. now owns 7,054 shares of the financial services provider’s stock valued at $445,000 after buying an additional 1,906 shares during the last quarter. Henderson Group PLC raised its position in shares of Principal Financial Group by 1.8% in the first quarter. Henderson Group PLC now owns 44,709 shares of the financial services provider’s stock valued at $2,822,000 after buying an additional 793 shares during the last quarter. Finally, Elkfork Partners LLC raised its position in shares of Principal Financial Group by 125.9% in the first quarter. Elkfork Partners LLC now owns 143,990 shares of the financial services provider’s stock valued at $9,087,000 after buying an additional 80,240 shares during the last quarter. 68.19% of the stock is currently owned by 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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