Principal Financial Group Inc. (PFG) Shares Gap Down to $47.99
Principal Financial Group Inc. (NYSE:PFG) gapped down prior to trading on Friday . The stock had previously closed at $47.96, but opened at $47.99. Principal Financial Group shares last traded at $48.14, with a volume of 601,877 shares trading hands.
A number of research firms recently commented on PFG. RBC Capital Markets set a $52.00 price target on Principal Financial Group and gave the company a “buy” rating in a research report on Friday, August 19th. Deutsche Bank AG set a $48.00 price objective on Principal Financial Group and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Stifel Nicolaus upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Sunday, July 31st. JPMorgan Chase & Co. restated a “sell” rating and issued a $46.00 price objective on shares of Principal Financial Group in a research note on Friday, July 29th. Finally, Barclays PLC upped their price objective on Principal Financial Group from $41.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $48.14.
The stock has a 50 day moving average price of $45.76 and a 200 day moving average price of $42.12. The company has a market cap of $13.88 billion and a price-to-earnings ratio of 11.47.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.09. During the same period in the previous year, the firm posted $1.09 EPS. Equities analysts expect that Principal Financial Group Inc. will post $4.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Wednesday, August 31st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.39.
In other Principal Financial Group news, SVP Gregory Bernard Elming sold 46,770 shares of Principal Financial Group stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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