Principal Financial Group Inc. (PFG) Shares Gap Down to $47.99
Shares of Principal Financial Group Inc. (NYSE:PFG) gapped down before the market opened 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 analysts have recently issued reports on PFG shares. RBC Capital Markets set a $52.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a report on Friday, August 19th. Evercore ISI started coverage on shares of Principal Financial Group in a report on Wednesday, July 6th. They set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Sunday, July 31st. Barclays PLC raised 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 report on Friday, July 29th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Principal Financial Group in a report on Tuesday, May 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.14.
The stock’s 50 day moving average is $45.76 and its 200-day moving average is $42.12. The company has a market cap of $13.88 billion and a PE ratio of 11.47.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 28th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.09. During the same period last year, the business posted $1.09 EPS. On average, equities analysts expect that Principal Financial Group Inc. will post $4.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.40%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, August 31st.
In other 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 transaction of $2,045,252.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
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 Securities and Exchange Commission (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 filing with the SEC.
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.