BidaskClub cut shares of Principal Financial Group Inc (NYSE:PFG) from a buy rating to a hold rating in a research note released on Friday morning.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Principal Financial Group from a hold rating to a buy rating and set a $70.00 price objective for the company in a research note on Monday, April 10th. Wells Fargo & Company reaffirmed a buy rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a buy rating and issued a $73.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $68.00 price objective on shares of Principal Financial Group in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG raised their price objective on shares of Principal Financial Group from $60.00 to $62.00 and gave the stock a hold rating in a research note on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $61.22.

Shares of Principal Financial Group (PFG) opened at 66.51 on Friday. The stock has a market cap of $19.19 billion, a price-to-earnings ratio of 15.12 and a beta of 1.65. Principal Financial Group has a 52 week low of $46.36 and a 52 week high of $67.73. The stock’s 50 day moving average price is $65.33 and its 200 day moving average price is $63.03.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted $1.15 EPS. Equities research analysts anticipate that Principal Financial Group will post $5.18 EPS for the current fiscal year.

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Principal Financial Group announced that its board has initiated a share repurchase program on Wednesday, May 17th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.47 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.83%. Principal Financial Group’s dividend payout ratio is presently 41.82%.

In other Principal Financial Group news, EVP Gary P. Scholten sold 13,495 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $67.00, for a total value of $904,165.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karen E. Shaff sold 30,500 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $65.00, for a total transaction of $1,982,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 295,096 shares of company stock valued at $19,025,927. Insiders own 1.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Principal Financial Group by 2,276.3% in the first quarter. BlackRock Inc. now owns 17,714,618 shares of the financial services provider’s stock worth $1,117,969,000 after buying an additional 16,969,140 shares during the last quarter. Janus Capital Management LLC increased its stake in Principal Financial Group by 399.3% in the first quarter. Janus Capital Management LLC now owns 2,379,858 shares of the financial services provider’s stock worth $150,193,000 after buying an additional 1,903,190 shares during the last quarter. Vanguard Group Inc. increased its stake in Principal Financial Group by 6.7% in the first quarter. Vanguard Group Inc. now owns 29,649,875 shares of the financial services provider’s stock worth $1,871,204,000 after buying an additional 1,862,125 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Principal Financial Group by 745.9% in the first quarter. BNP Paribas Arbitrage SA now owns 401,219 shares of the financial services provider’s stock worth $25,321,000 after buying an additional 353,787 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Principal Financial Group by 30.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,499,968 shares of the financial services provider’s stock worth $94,663,000 after buying an additional 349,372 shares during the last quarter. Institutional investors own 70.45% of the company’s stock.

Principal Financial Group Company Profile

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. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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