Principal Financial Group, Inc. (NASDAQ:PFG) Given Average Recommendation of “Hold” by Brokerages

Principal Financial Group, Inc. (NASDAQ:PFG) has earned a consensus recommendation of “Hold” from the thirteen research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $105.0833.

Several research analysts have weighed in on the stock. Atlantic Securities set a $94.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 15th. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Piper Sandler boosted their price target on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their price target on shares of Principal Financial Group from $101.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group increased their price objective on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a report on Friday, July 10th.

Principal Financial Group Price Performance

Shares of PFG opened at $109.57 on Wednesday. The company has a market capitalization of $23.67 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.08 and a beta of 0.88. Principal Financial Group has a fifty-two week low of $75.00 and a fifty-two week high of $114.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The business’s 50-day moving average is $107.67 and its 200-day moving average is $98.03.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period in the prior year, the firm earned $1.81 earnings per share. Equities research analysts expect that Principal Financial Group will post 9.4 EPS for the current fiscal year.

Insider Activity

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total value of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares of the company’s stock, valued at $2,208,781.98. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wee Yee Cheong sold 9,183 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $101.26, for a total value of $929,870.58. Following the sale, the insider directly owned 77,188 shares of the company’s stock, valued at $7,816,056.88. This trade represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 28,317 shares of company stock worth $2,884,902. Insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DV Equities LLC bought a new position in shares of Principal Financial Group during the 4th quarter valued at $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Principal Financial Group during the 4th quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Principal Financial Group in the 4th quarter worth $26,000. Valley Wealth Managers Inc. acquired a new position in Principal Financial Group during the 1st quarter worth $27,000. Finally, MBM Wealth Consultants LLC acquired a new position in Principal Financial Group during the 1st quarter worth $28,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.