Principal Financial Group (NASDAQ:PFG) Downgraded by Morgan Stanley

Morgan Stanley downgraded shares of Principal Financial Group (NASDAQ:PFGGet Rating) from an equal weight rating to an underweight rating in a report published on Thursday morning, MarketBeat.com reports. They currently have $79.00 target price on the stock, up from their prior target price of $76.00.

Other equities research analysts also recently issued reports about the stock. Evercore ISI lifted their price target on shares of Principal Financial Group to $76.00 in a research note on Monday, August 15th. Piper Sandler boosted their target price on shares of Principal Financial Group to $90.00 in a research report on Tuesday, November 1st. StockNews.com initiated coverage on shares of Principal Financial Group in a research report on Wednesday, October 12th. They set a hold rating for the company. Keefe, Bruyette & Woods cut shares of Principal Financial Group from a market perform rating to an underperform rating and boosted their price target for the stock from $75.00 to $77.00 in a report on Monday, October 31st. Finally, Jefferies Financial Group boosted their target price on shares of Principal Financial Group from $56.00 to $60.00 and gave the company an underperform rating in a research note on Thursday, September 8th. Seven analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $77.50.

Principal Financial Group Trading Up 1.2 %

PFG opened at $90.90 on Thursday. Principal Financial Group has a 1-year low of $61.05 and a 1-year high of $96.17. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.42. The company has a market cap of $22.24 billion, a P/E ratio of 4.41, a price-to-earnings-growth ratio of 2.54 and a beta of 1.29. The company has a fifty day moving average price of $82.60 and a two-hundred day moving average price of $74.64.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, December 1st will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, November 30th. Principal Financial Group’s payout ratio is 12.41%.

Insider Transactions at Principal Financial Group

In other news, EVP Roberto Walker sold 9,000 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $76.95, for a total value of $692,550.00. Following the transaction, the executive vice president now owns 34,008 shares of the company’s stock, valued at approximately $2,616,915.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Roberto Walker sold 9,000 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $76.95, for a total value of $692,550.00. Following the transaction, the executive vice president now owns 34,008 shares of the company’s stock, valued at approximately $2,616,915.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sandra L. Helton sold 14,033 shares of the stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total transaction of $1,123,341.65. Following the completion of the transaction, the director now directly owns 18,245 shares in the company, valued at approximately $1,460,512.25. The disclosure for this sale can be found here. Insiders have sold 25,480 shares of company stock valued at $2,007,859 in the last quarter. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in PFG. Avantax Advisory Services Inc. bought a new position in shares of Principal Financial Group during the 1st quarter valued at $220,000. Belpointe Asset Management LLC lifted its position in shares of Principal Financial Group by 17.6% in the 1st quarter. Belpointe Asset Management LLC now owns 2,240 shares of the company’s stock worth $164,000 after purchasing an additional 335 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Principal Financial Group by 6.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 16,495 shares of the company’s stock worth $1,211,000 after acquiring an additional 1,012 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Principal Financial Group in the 1st quarter worth about $1,028,000. Finally, Whittier Trust Co. increased its stake in shares of Principal Financial Group by 21.5% in the 1st quarter. Whittier Trust Co. now owns 3,037 shares of the company’s stock worth $223,000 after acquiring an additional 537 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

Principal Financial Group Company Profile

(Get Rating)

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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