Shares of Principal Financial Group, Inc. (NASDAQ:PFG) have been assigned an average rating of "Hold" from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $50.56.
Several research analysts have recently commented on PFG shares. Evercore ISI raised Principal Financial Group from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $49.00 to $60.00 in a report on Friday, January 8th. TheStreet upgraded shares of Principal Financial Group from a "c+" rating to a "b" rating in a research report on Thursday, January 28th. Barclays initiated coverage on shares of Principal Financial Group in a research report on Tuesday, November 17th. They set an "overweight" rating and a $53.00 target price for the company. Zacks Investment Research upgraded shares of Principal Financial Group from a "sell" rating to a "hold" rating and set a $55.00 target price for the company in a research report on Thursday, January 14th. Finally, Morgan Stanley dropped their target price on shares of Principal Financial Group from $56.00 to $55.00 and set an "equal weight" rating for the company in a research report on Friday, January 29th.
In related news, insider Julia M. Lawler sold 8,410 shares of the company's stock in a transaction on Monday, February 8th. The shares were sold at an average price of $53.93, for a total value of $453,551.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Deanna D. Strable-Soethout sold 19,160 shares of the company's stock in a transaction on Wednesday, December 9th. The stock was sold at an average price of $51.00, for a total transaction of $977,160.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,664 shares of company stock valued at $1,535,510. 1.09% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PFG. Credit Suisse AG boosted its stake in Principal Financial Group by 682.1% in the 4th quarter. Credit Suisse AG now owns 4,336,075 shares of the company's stock worth $215,112,000 after purchasing an additional 3,781,676 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Principal Financial Group by 168.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,667,383 shares of the company's stock worth $107,416,000 after purchasing an additional 1,673,800 shares during the period. Retirement Systems of Alabama boosted its stake in Principal Financial Group by 558.9% in the 4th quarter. Retirement Systems of Alabama now owns 677,978 shares of the company's stock worth $33,634,000 after purchasing an additional 575,079 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Principal Financial Group by 936.4% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 475,129 shares of the company's stock worth $19,133,000 after buying an additional 429,284 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Principal Financial Group by 331.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 481,901 shares of the company's stock worth $19,405,000 after buying an additional 370,177 shares during the last quarter. 69.09% of the stock is owned by hedge funds and other institutional investors.
NASDAQ PFG opened at $59.58 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.07 and a quick ratio of 0.07. The stock's 50-day moving average is $52.67 and its two-hundred day moving average is $48.50. The firm has a market cap of $16.24 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.64. Principal Financial Group has a fifty-two week low of $23.31 and a fifty-two week high of $60.52.
Principal Financial Group (NASDAQ:PFG) last released its earnings results on Thursday, January 28th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.05. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.93 billion. Principal Financial Group had a return on equity of 9.22% and a net margin of 8.15%. During the same period last year, the business earned $1.41 earnings per share. On average, equities analysts expect that Principal Financial Group will post 4.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Investors of record on Monday, March 1st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, February 26th. Principal Financial Group's dividend payout ratio is currently 40.14%.
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.
Featured Article: The risks of owning bonds
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
10 Great Cheap Stocks to Buy Now for Under $10
As the P/E ratios of most S&P 500 companies look very expensive and the stock market continues to hit new all-time highs regularly, it's challenging for investors to find cheap stocks to buy now.
This goes for both share price since most stocks are trading higher on a per-share basis and valuation relative to earnings. Right now, the typical S&P 500 company is trading at about 25 times forward-looking earnings. Historically, S&P 500 companies have traded at about 15 times earnings in more normal markets.
While the S&P 500 as a whole is expensive, there are still a handful of undervalued stocks trading at less than $10.00 per share. Value investing opportunities for value exist if you know where to look. Putting together a list of cheap stocks to buy now requires looking into some smaller, riskier, unloved, or undiscovered parts of the market. These low-priced stocks might not look especially attractive today, but long-term investors stand to profit if they are willing to be patient and hold onto shares of these companies through multiple market cycles.
Some of these companies are great investing ideas because they're too small and too risky to attract most mutual funds and Wall Street money managers. Others have been beaten up by the market after a period of slowing earnings and profits but are now trying to turn around and bounce back.
You might find marijuana stocks, dividend-paying stocks, large-cap stocks, growth stocks, small-cap stocks, and even some bitcoin stocks in this list. While these low-priced stocks have many differences, these 10 stock picks all share a common characteristic, a super-low share price of $10.00 or less.
View the "10 Great Cheap Stocks to Buy Now for Under $10".