Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) has received a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $69.40.
A number of research firms have recently commented on PFG. Citigroup began coverage on Principal Financial Group in a report on Monday, May 23rd. They issued a “sell” rating and a $63.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Principal Financial Group from $72.00 to $69.00 in a report on Monday, July 11th. Royal Bank of Canada cut their price objective on Principal Financial Group from $79.00 to $70.00 in a report on Monday, July 11th. Barclays dropped their target price on Principal Financial Group from $85.00 to $78.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Finally, Piper Sandler dropped their target price on Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, July 8th.
Principal Financial Group Stock Performance
Principal Financial Group stock opened at $67.12 on Tuesday. The stock’s 50-day moving average is $67.01 and its 200-day moving average is $70.11. The company has a market cap of $16.96 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 2.27 and a beta of 1.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.10 and a quick ratio of 0.10. Principal Financial Group has a 12 month low of $60.61 and a 12 month high of $80.36.
Insider Buying and Selling at Principal Financial Group
In other Principal Financial Group news, EVP Wee Yee Cheong sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $71.00, for a total transaction of $710,000.00. Following the completion of the sale, the executive vice president now owns 37,093 shares in the company, valued at approximately $2,633,603. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.17% of the stock is owned by insiders.Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Principal Financial Group by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 29,028,108 shares of the company’s stock worth $2,130,953,000 after purchasing an additional 150,598 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Principal Financial Group by 3.4% in the 1st quarter. BlackRock Inc. now owns 23,253,147 shares of the company’s stock worth $1,707,017,000 after purchasing an additional 756,508 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Principal Financial Group by 26.3% in the 1st quarter. Bank of America Corp DE now owns 14,006,960 shares of the company’s stock worth $1,028,251,000 after purchasing an additional 2,916,493 shares during the last quarter. State Street Corp lifted its holdings in shares of Principal Financial Group by 1.3% in the 4th quarter. State Street Corp now owns 13,491,017 shares of the company’s stock worth $975,805,000 after purchasing an additional 174,433 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Principal Financial Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,992,520 shares of the company’s stock worth $360,225,000 after purchasing an additional 57,389 shares during the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.
Principal Financial Group Company Profile
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.
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Principal Financial Group, Inc. (NASDAQ:PFG) Receives Average Rating of “Hold” from Brokerages - Defense World
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