Principal Financial Group Inc. (PFG) Shares Gap Down to $43.15
Principal Financial Group Inc. (NYSE:PFG) gapped down prior to trading on Thursday . The stock had previously closed at $42.86, but opened at $43.15. Principal Financial Group shares last traded at $44.21, with a volume of 663,967 shares trading hands.
PFG has been the subject of several recent analyst reports. Evercore ISI initiated coverage on Principal Financial Group in a research note on Wednesday, July 6th. They set a “buy” rating and a $48.00 target price for the company. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, April 20th. Deutsche Bank AG decreased their target price on Principal Financial Group from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday, July 7th. Morgan Stanley reaffirmed a “hold” rating on shares of Principal Financial Group in a research note on Saturday, April 30th. Finally, Bank of America Corp. cut Principal Financial Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.23.
The firm has a market cap of $12.83 billion and a price-to-earnings ratio of 11.30. The company has a 50 day moving average price of $42.28 and a 200 day moving average price of $40.61.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.03. During the same quarter in the previous year, the company posted $1.09 EPS. The company earned $2.94 billion during the quarter, compared to the consensus estimate of $2.88 billion. Principal Financial Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Principal Financial Group Inc. will post $4.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Monday, June 6th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, June 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.52%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.38.
In other Principal Financial Group news, SVP Gregory Bernard Elming sold 46,770 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $43.73, for a total transaction of $2,045,252.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James P. Mccaughan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $43.40, for a total value of $434,000.00. Following the transaction, the insider now owns 205,598 shares in the company, valued at approximately $8,922,953.20. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of PFG. Dimensional Fund Advisors LP increased its position in Principal Financial Group by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,299,233 shares of the company’s stock worth $148,410,000 after buying an additional 73,261 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in Principal Financial Group by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 105,609 shares of the company’s stock worth $4,751,000 after buying an additional 650 shares during the period. Trexquant Investment LP increased its position in Principal Financial Group by 1,355.4% in the fourth quarter. Trexquant Investment LP now owns 98,967 shares of the company’s stock worth $4,452,000 after buying an additional 92,167 shares during the period. US Bancorp DE increased its position in Principal Financial Group by 1.7% in the fourth quarter. US Bancorp DE now owns 69,393 shares of the company’s stock worth $3,121,000 after buying an additional 1,164 shares during the period. Finally, Advantus Capital Management Inc increased its position in Principal Financial Group by 1.7% in the fourth quarter. Advantus Capital Management Inc now owns 25,949 shares of the company’s stock worth $1,167,000 after buying an additional 423 shares during the period.
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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.