Principal Financial Group (PFG) Lifted to Overweight at Barclays

Barclays upgraded shares of Principal Financial Group (NYSE:PFG) from an equal weight rating to an overweight rating in a research report released on Monday morning, Marketbeat reports. They currently have $72.00 target price on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Principal Financial Group from a hold rating to a buy rating and set a $83.00 target price for the company in a research note on Friday, January 12th. Wells Fargo & Co set a $79.00 target price on shares of Principal Financial Group and gave the stock a buy rating in a research note on Thursday, December 7th. Goldman Sachs Group raised shares of Principal Financial Group from a neutral rating to a buy rating in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $73.00 target price on shares of Principal Financial Group in a research note on Monday, December 11th. Finally, Morgan Stanley lowered their target price on shares of Principal Financial Group from $80.00 to $79.00 and set an equal weight rating for the company in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Principal Financial Group currently has an average rating of Hold and a consensus target price of $73.56.

Shares of Principal Financial Group (PFG) opened at $63.27 on Monday. The company has a market cap of $18,120.00, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group has a 12 month low of $59.25 and a 12 month high of $75.58.

Principal Financial Group (NYSE:PFG) last released its earnings results on Monday, January 29th. The financial services provider reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.18). The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period in the previous year, the firm posted $1.27 earnings per share. equities analysts anticipate that Principal Financial Group will post 5.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 5th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, March 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 3.22%. Principal Financial Group’s payout ratio is currently 24.87%.

In other news, EVP Timothy Mark Dunbar sold 16,400 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $70.23, for a total transaction of $1,151,772.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Joseph Houston sold 37,080 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were 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. Insiders have sold a total of 301,958 shares of company stock valued at $21,343,156 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $174,000. Avestar Capital LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $169,000. Acadian Asset Management LLC grew its stake in shares of Principal Financial Group by 215.0% during the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after buying an additional 1,782 shares during the period. Resources Investment Advisors Inc. grew its stake in shares of Principal Financial Group by 268.6% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after buying an additional 2,184 shares during the period. Finally, Synovus Financial Corp purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $214,000. 68.64% of the stock is owned by institutional investors.

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About Principal Financial Group

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.

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