Shares of Principal Financial Group Inc (NYSE:PFG) have received a consensus recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $56.43.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada raised their price target on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. Finally, UBS Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Infineon Technologies in a research note on Tuesday, May 7th.
In related news, insider Luis E. Valdes sold 47,661 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $57.67, for a total value of $2,748,609.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $57.25, for a total value of $57,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,661 shares of company stock worth $2,915,900. 1.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Principal Financial Group by 24.0% in the 1st quarter. BlackRock Inc. now owns 23,469,104 shares of the financial services provider’s stock valued at $1,177,913,000 after purchasing an additional 4,548,474 shares in the last quarter. Geode Capital Management LLC raised its holdings in Principal Financial Group by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 4,149,598 shares of the financial services provider’s stock worth $183,017,000 after purchasing an additional 550,835 shares during the last quarter. FMR LLC raised its holdings in Principal Financial Group by 65.1% during the fourth quarter. FMR LLC now owns 4,108,866 shares of the financial services provider’s stock worth $181,489,000 after purchasing an additional 1,619,568 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Principal Financial Group by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,963,240 shares of the financial services provider’s stock worth $175,047,000 after purchasing an additional 264,669 shares during the last quarter. Finally, Norges Bank acquired a new position in Principal Financial Group during the fourth quarter worth $126,288,000. Institutional investors and hedge funds own 68.64% of the company’s stock.
PFG stock traded down $0.31 during mid-day trading on Friday, hitting $58.68. The company had a trading volume of 366,313 shares, compared to its average volume of 1,522,173. The firm’s fifty day moving average is $56.47. Principal Financial Group has a 12 month low of $40.42 and a 12 month high of $61.12.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.11. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the firm earned $1.40 EPS.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.68%.
About Principal Financial Group
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
Featured Story: What does a bar chart display?
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.