The Principal Financial Group Inc. (PFG) Research Coverage Started at Credit Suisse Group AG

The Principal Financial Group Inc. (PFG) Research Coverage Started at Credit Suisse Group AG

Credit Suisse Group AG began coverage on shares of Principal Financial Group Inc. (NYSE:PFG) in a research report released on Friday morning. The brokerage issued an underperform rating and a $53.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Bank of America Corp. cut Principal Financial Group from a buy rating to a neutral rating in a report on Wednesday, June 29th. Evercore ISI began coverage on Principal Financial Group in a report on Wednesday, July 6th. They issued a buy rating and a $48.00 price target for the company. Zacks Investment Research raised Principal Financial Group from a sell rating to a hold rating and set a $50.00 price target for the company in a report on Monday, July 18th. Deutsche Bank AG set a $48.00 price target on Principal Financial Group and gave the stock a hold rating in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. upped their price target on Principal Financial Group from $40.00 to $45.00 and gave the stock a sell rating in a report on Friday, September 23rd. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $48.73.

Shares of Principal Financial Group (NYSE:PFG) opened at 52.71 on Friday. The stock has a 50 day moving average price of $49.91 and a 200 day moving average price of $44.79. Principal Financial Group has a 1-year low of $33.09 and a 1-year high of $53.11. The company has a market capitalization of $15.16 billion, a price-to-earnings ratio of 12.53 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same period in the previous year, the business posted $1.09 earnings per share. On average, equities analysts anticipate that Principal Financial Group will post $4.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a yield of 3.11%. Principal Financial Group’s dividend payout ratio is currently 38.86%.

In related news, EVP Timothy Mark Dunbar sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $52.00, for a total value of $260,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.78% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its position in Principal Financial Group by 21.7% in the third quarter. Creative Planning now owns 12,179 shares of the company’s stock worth $627,000 after buying an additional 2,170 shares in the last quarter. British Columbia Investment Management Corp boosted its position in Principal Financial Group by 16.5% in the third quarter. British Columbia Investment Management Corp now owns 181,278 shares of the company’s stock worth $9,338,000 after buying an additional 25,718 shares in the last quarter. Washington Trust Bank boosted its position in Principal Financial Group by 0.9% in the third quarter. Washington Trust Bank now owns 2,721 shares of the company’s stock worth $140,000 after buying an additional 25 shares in the last quarter. Beacon Financial Group acquired a new position in Principal Financial Group during the third quarter worth approximately $6,706,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Principal Financial Group during the second quarter worth approximately $447,000. Hedge funds and other institutional investors own 67.13% of the company’s stock.

Principal Financial Group Company Profile

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