Principal Financial Group Inc. (PFG) Shares Gap Up to $47.17
Principal Financial Group Inc. (NYSE:PFG) shares gapped up before the market opened 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 changing hands.
Several brokerages have recently weighed in on PFG. Deutsche Bank AG reissued a “hold” rating on shares of Principal Financial Group in a research report on Tuesday, May 3rd. Morgan Stanley reissued a “hold” rating on shares of Principal Financial Group in a research report on Saturday, April 30th. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research report on Monday, July 18th. RBC Capital Markets set a $52.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Friday. Finally, Barclays PLC boosted their price target on shares of Principal Financial Group from $41.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $48.14.
The firm has a 50 day moving average price of $45.08 and a 200-day moving average price of $41.95. The stock has a market cap of $13.71 billion and a PE ratio of 11.34.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.09. During the same period in the previous year, the firm posted $1.09 EPS. Equities research analysts predict that Principal Financial Group Inc. will post $4.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Wednesday, August 31st. This is a boost 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 the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $43.73, for a total value of $2,045,252.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Principal Financial Group stock. Dorsey & Whitney Trust CO LLC raised its position in Principal Financial Group Inc. (NYSE:PFG) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,609 shares of the company’s stock after buying an additional 650 shares during the period. Principal Financial Group accounts for about 1.3% of Dorsey & Whitney Trust CO LLC’s holdings, making the stock its 24th largest position. Dorsey & Whitney Trust CO LLC’s holdings in Principal Financial Group were worth $4,751,000 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.