Principal Financial Group, Inc. (NASDAQ:PFG) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Brokerages currently give Principal Financial Group (NASDAQ:PFG) a consensus rating of “Hold”, based on coverage from 13 analysts. The average 1-year price target is about $105.08.
• The company recently reported Q1 earnings of $2.07 per share, beating estimates of $2.01, though revenue of $3.53 billion came in below expectations. Analysts expect full-year earnings of $9.40 per share.
• Insider selling has been notable, with executives including Wee Yee Cheong and George Djurasovic reducing their holdings. Over the last 90 days, insiders sold 28,317 shares worth about $2.88 million.

Shares of Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) have received an average recommendation of "Hold" from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $105.0833.

Several analysts recently commented on the company. Atlantic Securities set a $94.00 target price on Principal Financial Group in a research report on Wednesday, July 15th. Jefferies Financial Group boosted their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Barclays raised their price target on Principal Financial Group from $87.00 to $92.00 and gave the company an "underweight" rating in a report on Tuesday, July 7th. UBS Group lifted their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Principal Financial Group from $101.00 to $106.00 and gave the stock a "neutral" rating in a report on Tuesday.

Principal Financial Group Price Performance

Shares of NASDAQ:PFG opened at $109.57 on Wednesday. The firm's 50 day moving average is $107.67 and its two-hundred day moving average is $98.03. Principal Financial Group has a 52 week low of $75.00 and a 52 week high of $114.90. The firm has a market capitalization of $23.67 billion, a P/E ratio of 15.68, a PEG ratio of 1.08 and a beta of 0.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the previous year, the company posted $1.81 earnings per share. Analysts anticipate that Principal Financial Group will post 9.4 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Wee Yee Cheong sold 7,534 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the sale, the insider directly owned 66,443 shares of the company's stock, valued at approximately $6,854,259.88. This represents a 10.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares of the company's stock, valued at approximately $2,208,781.98. The trade was a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 28,317 shares of company stock valued at $2,884,902. Company insiders own 1.13% of the company's stock.

Institutional Investors Weigh In On Principal Financial Group

Large investors have recently modified their holdings of the stock. DV Equities LLC purchased a new position in Principal Financial Group in the 4th quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Principal Financial Group during the 4th quarter worth approximately $26,000. Hilton Head Capital Partners LLC acquired a new stake in Principal Financial Group during the 4th quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new stake in Principal Financial Group during the 1st quarter valued at $27,000. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of Principal Financial Group in the first quarter valued at $28,000. 75.08% of the stock is owned by institutional investors.

About Principal Financial Group

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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