Brokerages Set Principal Financial Group Inc (NYSE:PFG) Price Target at $43.67

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Shares of Principal Financial Group Inc (NYSE:PFG) have been given a consensus rating of “Hold” by the seven ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $43.67.

A number of brokerages recently issued reports on PFG. Morgan Stanley increased their price target on shares of Principal Financial Group from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, August 20th. Piper Sandler upped their price objective on shares of Principal Financial Group from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Royal Bank of Canada restated a “hold” rating and set a $45.00 price objective on shares of Principal Financial Group in a research report on Thursday, July 30th. UBS Group upped their price objective on shares of Principal Financial Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Finally, Credit Suisse Group upped their price objective on shares of Principal Financial Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th.

In other news, Director Daniel Gelatt acquired 28,148 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $35.52 per share, for a total transaction of $999,816.96. Following the completion of the transaction, the director now owns 187,741 shares in the company, valued at $6,668,560.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Strs Ohio boosted its stake in shares of Principal Financial Group by 3.2% in the first quarter. Strs Ohio now owns 29,109 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 889 shares during the period. Texas Permanent School Fund boosted its stake in shares of Principal Financial Group by 2.7% in the first quarter. Texas Permanent School Fund now owns 46,905 shares of the financial services provider’s stock valued at $1,470,000 after purchasing an additional 1,211 shares during the period. CWM LLC boosted its stake in shares of Principal Financial Group by 37.5% in the first quarter. CWM LLC now owns 5,142 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 1,403 shares during the period. Capital Square LLC purchased a new position in shares of Principal Financial Group in the first quarter valued at approximately $31,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Principal Financial Group by 0.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 134,368 shares of the financial services provider’s stock valued at $4,215,000 after purchasing an additional 1,031 shares during the period. 68.64% of the stock is owned by institutional investors.

NYSE:PFG traded up $0.90 during trading hours on Tuesday, hitting $43.42. 1,351,444 shares of the company were exchanged, compared to its average volume of 1,756,797. Principal Financial Group has a 52-week low of $23.31 and a 52-week high of $58.28. The company’s 50 day moving average price is $44.04 and its 200-day moving average price is $39.64.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.30 by $0.16. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the company earned $1.52 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Monday, August 31st.

About Principal Financial Group

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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Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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