Principal Financial Group (NYSE:PFG) has been assigned a $79.00 price objective by Wells Fargo & Co in a research note issued on Thursday, December 7th. The brokerage currently has a “buy” rating on the financial services provider’s stock. Wells Fargo & Co’s price target suggests a potential upside of 12.25% from the stock’s current price.
The analysts wrote, “We are maintaining our 2018E EPS of $5.65, largely due to better margins in RIS-Spread roughly offsetting slower topline growth in RIS-Fee versus our expectation. PFG’s accelerated digital investment initiative is expected to reduce 2018 operating earnings growth by around 2%. The long-term earnings growth target is unchanged at 9-12%. Our price target remains $79 per share. Implied 2018 EPS guidance range of $4.75 to $5.98. In addition to macro assumptions, Principal offered a range of revenue and margin expectations for each of its business units, which we cobbled into an implied consolidated EPS range with a midpoint of roughly $5.37. For the company’s spread businesses, each ±100 bps in interest rates should impact annual pre-tax operating earnings by less than 1%, all else being equal. Similarly, each ±10% in equity returns should impact pre-tax operating earnings by ±4-6%.””
A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Goldman Sachs Group assumed coverage on shares of Principal Financial Group in a report on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 price objective for the company. Morgan Stanley increased their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Royal Bank of Canada reiterated a “buy” rating and issued a $74.00 price objective on shares of Principal Financial Group in a report on Wednesday, September 6th. Finally, BidaskClub downgraded shares of Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $68.20.
Principal Financial Group (PFG) traded down $0.18 during mid-day trading on Thursday, reaching $70.38. 728,716 shares of the company’s stock were exchanged, compared to its average volume of 1,040,000. The firm has a market cap of $20,530.00, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group has a 12 month low of $56.12 and a 12 month high of $72.23.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.02). The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the previous year, the company posted $1.15 EPS. analysts anticipate that Principal Financial Group will post 5.22 earnings per share for the current year.
In related news, Chairman Daniel Joseph Houston sold 38,097 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $2,590,596.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nora Mary Everett sold 12,398 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total transaction of $843,064.00. The disclosure for this sale can be found here. Insiders have sold a total of 239,075 shares of company stock valued at $16,583,171 in the last 90 days. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Sun Life Financial INC boosted its position in Principal Financial Group by 21,822.2% in the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,964 shares during the period. Koch Industries Inc. purchased a new position in Principal Financial Group in the 2nd quarter valued at approximately $210,000. First Heartland Consultants Inc. purchased a new position in Principal Financial Group in the 3rd quarter valued at approximately $224,000. Honkamp Krueger Financial Services Inc. purchased a new position in Principal Financial Group in the 3rd quarter valued at approximately $226,000. Finally, Private Advisor Group LLC purchased a new position in Principal Financial Group in the 3rd quarter valued at approximately $255,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.
About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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