Principal Financial Group, Inc. (NASDAQ:PFG - Get Rating) has received an average rating of "Hold" from the thirteen research firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $78.73.
PFG has been the topic of several research analyst reports. Evercore ISI cut Principal Financial Group from an "in-line" rating to an "underperform" rating and raised their price objective for the stock from $75.00 to $81.00 in a research note on Thursday, November 17th. JPMorgan Chase & Co. lowered Principal Financial Group from a "neutral" rating to an "underweight" rating and raised their price target for the company from $69.00 to $72.00 in a report on Friday, October 7th. Raymond James initiated coverage on Principal Financial Group in a report on Wednesday, September 21st. They set a "market perform" rating on the stock. Citigroup raised their price target on Principal Financial Group from $62.00 to $65.00 in a report on Wednesday, November 16th. Finally, Credit Suisse Group lowered Principal Financial Group from an "outperform" rating to a "neutral" rating and lifted their target price for the stock from $82.00 to $86.00 in a report on Thursday, August 18th.
Principal Financial Group Stock Up 1.4 %
NASDAQ PFG opened at $92.18 on Monday. The stock has a market cap of $22.55 billion, a PE ratio of 4.47, a P/E/G ratio of 2.59 and a beta of 1.27. Principal Financial Group has a fifty-two week low of $61.05 and a fifty-two week high of $96.17. The business has a 50 day moving average price of $85.55 and a two-hundred day moving average price of $76.41. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.42.
Principal Financial Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Wednesday, November 30th. Principal Financial Group's dividend payout ratio is currently 12.41%.
Insider Buying and Selling
In related news, EVP Wee Yee Cheong sold 2,447 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $78.45, for a total transaction of $191,967.15. Following the completion of the transaction, the executive vice president now directly owns 34,700 shares in the company, valued at $2,722,215. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Wee Yee Cheong sold 2,447 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $78.45, for a total transaction of $191,967.15. Following the completion of the transaction, the executive vice president now directly owns 34,700 shares in the company, valued at approximately $2,722,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sandra L. Helton sold 14,033 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total value of $1,123,341.65. Following the transaction, the director now owns 18,245 shares of the company's stock, valued at $1,460,512.25. The disclosure for this sale can be found here. 1.17% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Principal Financial Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Principal Financial Group by 2.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 765,400 shares of the company's stock valued at $51,121,000 after purchasing an additional 18,894 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Principal Financial Group by 6.4% in the second quarter. Commonwealth Equity Services LLC now owns 67,055 shares of the company's stock worth $4,478,000 after purchasing an additional 4,005 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Principal Financial Group by 28.4% in the first quarter. Cetera Advisor Networks LLC now owns 12,872 shares of the company's stock valued at $945,000 after acquiring an additional 2,844 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $358,000. Finally, CIBC Asset Management Inc grew its holdings in shares of Principal Financial Group by 0.6% in the first quarter. CIBC Asset Management Inc now owns 25,225 shares of the company's stock valued at $1,852,000 after acquiring an additional 155 shares in the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.
About Principal Financial Group
(Get Rating)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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Principal Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Principal Financial Group wasn't on the list.
While Principal Financial Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
Principal Financial Group, Inc. (NASDAQ:PFG) Given Average Recommendation of "Hold" by Analysts - MarketBeat
Read More
Tidak ada komentar:
Posting Komentar