Principal Financial Group (PFG) Upgraded to “Overweight” at Barclays

Principal Financial Group (NYSE:PFG) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $72.00 price objective on the financial services provider’s stock. Barclays’ price target suggests a potential upside of 16.43% from the stock’s previous close.

PFG has been the subject of a number of other reports. Wells Fargo & Co reiterated a “market perform” rating and set a $76.00 price target on shares of Principal Financial Group in a research report on Monday, January 8th. Goldman Sachs Group started coverage on shares of Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price target for the company. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Morgan Stanley reduced their price target on shares of Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $73.00 price target on shares of Principal Financial Group in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Principal Financial Group has an average rating of “Hold” and a consensus price target of $73.56.

Shares of Principal Financial Group (PFG) traded up $0.45 during trading hours on Monday, reaching $61.84. 2,108,667 shares of the company were exchanged, compared to its average volume of 1,430,000. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market capitalization of $17,860.00, a P/E ratio of 7.85, a P/E/G ratio of 1.35 and a beta of 1.58. Principal Financial Group has a 1 year low of $59.25 and a 1 year high of $75.58.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.18). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the business earned $1.27 EPS. analysts predict that Principal Financial Group will post 5.22 earnings per share for the current fiscal year.

In other news, EVP Karen E. Shaff sold 50,561 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $69.51, for a total transaction of $3,514,495.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel Joseph Houston sold 37,080 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $70.05, for a total transaction of $2,597,454.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,958 shares of company stock valued at $21,343,156. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PFG. Cubist Systematic Strategies LLC increased its stake in shares of Principal Financial Group by 159.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 12,328 shares of the financial services provider’s stock worth $790,000 after purchasing an additional 7,581 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $519,000. The Manufacturers Life Insurance Company increased its stake in shares of Principal Financial Group by 12.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 320,063 shares of the financial services provider’s stock worth $20,507,000 after purchasing an additional 35,894 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $1,387,000. Finally, Verition Fund Management LLC purchased a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $539,000. 68.64% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Principal Financial Group (PFG) Upgraded to “Overweight” at Barclays” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/12/principal-financial-group-pfg-upgraded-to-overweight-at-barclays.html.

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)

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply