Principal Financial Group Inc. (PFG) Shares Gap Up to $47.17
Principal Financial Group Inc. (NYSE:PFG)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $46.86, but opened at $47.17. Principal Financial Group shares last traded at $47.65, with a volume of 443,807 shares.
A number of research firms have recently commented on PFG. Morgan Stanley reiterated a “hold” rating on shares of Principal Financial Group in a research note on Saturday, April 30th. Evercore ISI began coverage on Principal Financial Group in a research report on Wednesday, July 6th. They set a “buy” rating and a $48.00 target price on the stock. Bank of America Corp. downgraded Principal Financial Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th. Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a research report on Monday, July 18th. Finally, Deutsche Bank AG set a $48.00 target price on Principal Financial Group and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Principal Financial Group has a consensus rating of “Hold” and an average price target of $48.14.
The company has a 50-day moving average of $45.31 and a 200 day moving average of $41.99. The firm has a market cap of $13.77 billion and a price-to-earnings ratio of 11.38.
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, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.09. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, analysts anticipate that Principal Financial Group Inc. will post $4.36 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a yield of 3.44%.
In other Principal Financial Group news, SVP Gregory Bernard Elming sold 46,770 shares of the stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $43.73, for a total value of $2,045,252.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
A hedge fund recently raised its stake in Principal Financial Group stock. Morgan Stanley raised its stake in Principal Financial Group Inc. (NYSE:PFG) by 45.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 456,939 shares of the company’s stock after buying an additional 142,625 shares during the period. Morgan Stanley owned 0.16% of Principal Financial Group worth $20,553,000 as of its most recent SEC filing.
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.
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