Principal Financial Group Inc (NYSE:PFG) Receives Consensus Rating of “Hold” from Brokerages
Shares of Principal Financial Group Inc (NYSE:PFG) have received an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $56.17.
PFG has been the subject of several research analyst reports. Barclays set a $66.00 price objective on Principal Financial Group and gave the company a “buy” rating in a report on Monday, August 12th. UBS Group decreased their price objective on Principal Financial Group from $49.00 to $48.00 and set a “sell” rating for the company in a report on Thursday, October 10th. Finally, Morgan Stanley set a $56.00 price objective on Principal Financial Group and gave the company a “hold” rating in a report on Friday, October 25th.
Shares of PFG opened at $54.32 on Thursday. Principal Financial Group has a 52-week low of $40.42 and a 52-week high of $60.81. The stock has a 50 day moving average price of $55.39 and a 200 day moving average price of $55.84.
In related news, EVP Julia M. Lawler sold 1,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $57.56, for a total transaction of $57,560.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 3,000 shares of company stock valued at $164,450. Corporate insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rockland Trust Co. boosted its holdings in shares of Principal Financial Group by 6.6% in the second quarter. Rockland Trust Co. now owns 22,072 shares of the financial services provider’s stock valued at $1,278,000 after acquiring an additional 1,363 shares during the period. DNB Asset Management AS raised its position in Principal Financial Group by 73.7% in the second quarter. DNB Asset Management AS now owns 58,069 shares of the financial services provider’s stock worth $3,363,000 after acquiring an additional 24,640 shares in the last quarter. Denali Advisors LLC raised its position in Principal Financial Group by 4.9% in the second quarter. Denali Advisors LLC now owns 189,417 shares of the financial services provider’s stock worth $10,971,000 after acquiring an additional 8,800 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Principal Financial Group by 0.7% in the second quarter. Crossmark Global Holdings Inc. now owns 204,591 shares of the financial services provider’s stock worth $11,850,000 after acquiring an additional 1,376 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Principal Financial Group in the second quarter worth $5,365,000. 68.64% of the stock is owned by hedge funds and other institutional investors.
Principal Financial Group Company Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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