Principal Financial Group (NASDAQ:PFG) Price Target Cut to $75.00 by Analysts at Morgan Stanley

Principal Financial Group (NASDAQ:PFGGet Rating) had its price objective lowered by Morgan Stanley from $79.00 to $75.00 in a report published on Tuesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

PFG has been the topic of several other reports. Credit Suisse Group downgraded shares of Principal Financial Group from a neutral rating to an underperform rating and set a $86.00 target price on the stock. in a report on Thursday, December 8th. Keefe, Bruyette & Woods downgraded shares of Principal Financial Group from a market perform rating to an underperform rating and raised their target price for the stock from $75.00 to $77.00 in a report on Monday, October 31st. Evercore ISI downgraded shares of Principal Financial Group from an in-line rating to an underperform rating and raised their target price for the stock from $75.00 to $81.00 in a report on Thursday, November 17th. JPMorgan Chase & Co. raised their target price on shares of Principal Financial Group from $72.00 to $78.00 and gave the stock an underweight rating in a report on Friday, January 6th. Finally, Barclays downgraded shares of Principal Financial Group from an overweight rating to an equal weight rating and raised their target price for the stock from $81.00 to $89.00 in a report on Tuesday, November 1st. Eight analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of Reduce and an average target price of $78.25.

Principal Financial Group Stock Performance

Shares of NASDAQ:PFG opened at $87.62 on Tuesday. The company has a market capitalization of $21.44 billion, a price-to-earnings ratio of 4.25, a P/E/G ratio of 2.29 and a beta of 1.27. The firm’s 50 day simple moving average is $88.59 and its 200 day simple moving average is $80.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.37 and a quick ratio of 0.37. Principal Financial Group has a fifty-two week low of $61.05 and a fifty-two week high of $96.17.

Principal Financial Group (NASDAQ:PFGGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.24. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.05 billion. Principal Financial Group had a net margin of 28.67% and a return on equity of 14.61%. As a group, sell-side analysts forecast that Principal Financial Group will post 6.47 earnings per share for the current year.

Principal Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 19th. Investors of record on Thursday, December 1st were paid a $0.64 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $2.56 annualized dividend and a dividend yield of 2.92%. Principal Financial Group’s dividend payout ratio is presently 12.41%.

Insider Activity at Principal Financial Group

In related news, Director Sandra L. Helton sold 14,033 shares of the firm’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $80.05, for a total value of $1,123,341.65. Following the completion of the transaction, the director now directly owns 18,245 shares of the company’s stock, valued at $1,460,512.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its position in Principal Financial Group by 25.1% during the third quarter. Allworth Financial LP now owns 7,324 shares of the company’s stock worth $528,000 after purchasing an additional 1,470 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Principal Financial Group by 2.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 765,400 shares of the company’s stock worth $51,121,000 after purchasing an additional 18,894 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Principal Financial Group by 58.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 132,677 shares of the company’s stock worth $9,573,000 after purchasing an additional 48,750 shares during the period. Commonwealth Equity Services LLC boosted its position in Principal Financial Group by 6.4% during the second quarter. Commonwealth Equity Services LLC now owns 67,055 shares of the company’s stock worth $4,478,000 after purchasing an additional 4,005 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Principal Financial Group during the second quarter worth $358,000. 74.21% of the stock is owned by institutional investors.

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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Analyst Recommendations for Principal Financial Group (NASDAQ:PFG)

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