The Vanguard Group, Inc. has recently announced that it has increased stake in Principal Financial Group Inc. (NASDAQ:PFG) by 5.31%. After grabbing 28.72 million shares, the institutional investor is now in possession of 1.45 million shares of the Financial Company. The new investment brought the stake of investor firm to 11.82% having worth around $2.15 billion. Moreover, First Trust Advisors LP increased its share by 2.06 million to have a control over 4.9 million shares. And Northern Trust Investments, Inc. raised its holdings to 3656.0 shares by acquiring 3.64 million shares or 1.50% of the stake.
Principal Financial Group Inc. (PFG) concluded trading on 05/24/23 at a closing price of $68.51, with 1.0 million shares of worth about $68.58 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -24.72% during that period and on Wednesday the price saw a loss of about -2.81%. Currently the company’s common shares owned by public are about 243.40M shares, out of which, 241.66M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 18 analysts are covering the PFG stock and their offered price forecasts bring an average price target of $76.07. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $94.00 and could fall to a lowest price of $58.00. The stock’s current price level is 9.4% above of average price target set by the analysts, while a rise to estimated low would result in loss of -18.12% for the stock. However, touching the estimated high of $94.00 would mean a gain of 27.12% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 177 times over the past 12 months. They bought 1,697,411 shares in 139 of the transactions. In 38 selling transactions, insiders dumped 1,500,727 shares.
Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Principal Financial Group Inc. Vanguard Total Stock Market ETF is currently holding 7.54 million shares of worth totaling $563.04 million. The company recently came buying 2447.0 shares which brought its stake up to 3.10% of the company’s outstanding shares. Vanguard Mid Cap Index Fund sold 2769.0 shares, after which its hold over company’s outstanding shares shrunk to 2.34%, leaving 5.68 million shares with the mutual fund that have a worth of about $423.91 million. Vanguard 500 Index Fund, after buying 5.34 million shares, have now control over 2.20% of the stake in the company. It holds 28412.0 shares of worth $398.92 million.
Principal Financial Group Inc. (NASDAQ: PFG) started trading at $70.12, below -$0.37 from concluding price of the previous day. However, the stock later moved at a day high price of 70.21, or with a loss of -2.81%. Stock saw a price change of -1.27% in past 5 days and over the past one month there was a price change of -6.36%. Year-to-date (YTD), PFG shares are showing a performance of -18.36% which decreased to -2.86% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $61.05 but also hit the highest price of $96.17 during that period. The average intraday trading volume for Principal Financial Group Inc. shares is 1.96 million. The stock is currently trading -2.96% below its 20-day simple moving average (SMA20), while that difference is down -5.56% for SMA50 and it goes to -15.62% lower than SMA200.
The Vanguard Group, Inc. acquired 28.72 million shares of Principal Financial Group Inc. having value of about $2.15 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.45 million shares in the company valued at close to $99299627.18, or have control over 5.31% stake in the company. Principal Financial Group Inc. (NASDAQ: PFG) currently have 243.40M outstanding shares and institutions hold larger chunk of about 76.90% of that. Holding of mutual funds in the company is about 36.41% while other institutional holders and individual stake holders have control over 38.41% and 1.36% of the stake respectively.
The stock has a current market capitalization of $16.74B and its 3Y-monthly beta is at 1.28. PE ratio of stock for trailing 12 months is 4.07, while it has posted earnings per share of $16.82 in the same period. Its PEG reads 0.61 while making debt-to-equity ratio of 0.46. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PFG, volatility over the week remained 2.30% while standing at 2.75% over the month.
Analysts are in expectations that Principal Financial Group Inc. (PFG) stock would likely to be making an EPS of $1.66 in the current quarter, while forecast for next quarter EPS is $1.73 and it is $7.45 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.54 which is $1.77 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.65 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 200.70% while it is estimated to increase by 11.97% in next year. EPS is likely to shrink at an annualized rate of 6.65% for next 5-years, compared to annual growth of 26.40% made by the stock over the past 5-years.
Analysts at 18 brokerage firms have issued recommendations for the Principal Financial Group Inc. (PFG)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.60. Out of those 18 Wall Street analysts, 0 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 9 analyst recommended the stock as “Sell”.
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