UBS Group Lowers Principal Financial Group (NYSE:PFG) Price Target to $48.00

Principal Financial Group (NYSE:PFG) had its price target decreased by analysts at UBS Group from $49.00 to $48.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “sell” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential downside of 13.28% from the company’s current price.

PFG has been the subject of a number of other reports. Barclays set a $66.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Monday, August 12th. Morgan Stanley dropped their price target on shares of Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Finally, Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $57.00.

Shares of PFG stock opened at $55.35 on Thursday. The firm has a 50 day moving average price of $55.04 and a two-hundred day moving average price of $55.45. Principal Financial Group has a 12-month low of $40.42 and a 12-month high of $60.81.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.12. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business earned $1.35 earnings per share.

In related news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $57.99, for a total value of $57,990.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Luis E. Valdes sold 11,829 shares of Principal Financial Group stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.54, for a total transaction of $704,298.66. The disclosure for this sale can be found here. Insiders sold 14,829 shares of company stock worth $872,799 over the last three months. 1.50% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Strs Ohio grew its stake in shares of Principal Financial Group by 390.3% during the second quarter. Strs Ohio now owns 18,035 shares of the financial services provider’s stock worth $1,044,000 after buying an additional 14,357 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Principal Financial Group by 35.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,830 shares of the financial services provider’s stock worth $164,000 after buying an additional 745 shares during the last quarter. US Bancorp DE grew its stake in shares of Principal Financial Group by 12.6% during the second quarter. US Bancorp DE now owns 83,383 shares of the financial services provider’s stock worth $4,829,000 after buying an additional 9,324 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Principal Financial Group by 9.9% during the second quarter. BNP Paribas Arbitrage SA now owns 145,592 shares of the financial services provider’s stock worth $8,433,000 after buying an additional 13,114 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Principal Financial Group by 73.6% during the second quarter. CWM LLC now owns 1,222 shares of the financial services provider’s stock worth $71,000 after buying an additional 518 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Company Profile

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 (NYSE:PFG)

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