Principal Financial Group Inc. [NASDAQ: PFG] plunged by -$5.05 during the normal trading session on Thursday and reaching a high of $89.15 during the day while it closed the day at $86.18. The company report on March 1, 2023 that Principal Financial Group Announces 2023 and Long-Term Outlook.
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Principal Financial Group® (Nasdaq: PFG) announced its 2023 and long-term financial guidance today.
Dan Houston, chairman, president, and CEO, and Deanna Strable, CFO, will provide additional details and take questions along with other members of the Principal executive team during a conference call on March 2, 2023, at 10 a.m. EST. Slides with details of the 2023 and long-term outlook, including the impacts of the targeted improvements for long-duration insurance contracts accounting guidance (LDTI), and a recast fourth quarter 2022 financial supplement are available at investors.principal.com.
Principal Financial Group Inc. stock has also loss -3.11% of its value over the past 7 days. However, PFG stock has declined by -4.07% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.46% and gained 2.69% year-on date.
The market cap for PFG stock reached $20.97 billion, with 244.50 million shares outstanding and 241.66 million shares in the current float. Compared to the average trading volume of 1.48M shares, PFG reached a trading volume of 4942342 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Principal Financial Group Inc. [PFG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PFG shares is $84.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PFG stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Principal Financial Group Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 08, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $76 to $79. The new note on the price target was released on November 17, 2022, representing the official price target for Principal Financial Group Inc. stock. Previously, the target price had yet another raise from $75 to $81, while Evercore ISI kept a Underperform rating on PFG stock. On November 01, 2022, analysts increased their price target for PFG shares from 81 to 89.
The Average True Range (ATR) for Principal Financial Group Inc. is set at 2.61, with the Price to Sales ratio for PFG stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 19.93. Price to Free Cash Flow for PFG in the course of the last twelve months was 8.68.
PFG stock trade performance evaluation
Principal Financial Group Inc. [PFG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.11. With this latest performance, PFG shares dropped by -6.88% in over the last four-week period, additionally plugging by 14.46% over the last 6 months – not to mention a rise of 27.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PFG stock in for the last two-week period is set at 38.98, with the RSI for the last a single of trading hit 34.43, and the three-weeks RSI is set at 42.50 for Principal Financial Group Inc. [PFG]. The present Moving Average for the last 50 days of trading for this stock 88.82, while it was recorded at 88.91 for the last single week of trading, and 79.41 for the last 200 days.
Principal Financial Group Inc. [PFG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Principal Financial Group Inc. [PFG] shares currently have an operating margin of +35.03. Principal Financial Group Inc.’s Net Margin is presently recorded at +27.51.
Return on Equity for this stock inclined to 36.91, with Return on Assets sitting at 1.67.
Earnings per share (EPS) analysis for Principal Financial Group Inc. [PFG] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PFG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Principal Financial Group Inc. go to 6.70%.
Principal Financial Group Inc. [PFG]: Insider Ownership positions
There are presently around $16,050 million, or 76.90% of PFG stock, in the hands of institutional investors. The top three institutional holders of PFG stocks are: VANGUARD GROUP INC with ownership of 28,280,358, which is approximately -0.681% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 23,502,767 shares of the stock with an approximate value of $2.03 billion in PFG stocks shares; and NIPPON LIFE INSURANCE CO, currently with $1.56 billion in PFG stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Principal Financial Group Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 405 institutional holders increased their position in Principal Financial Group Inc. [NASDAQ:PFG] by around 13,259,377 shares. Additionally, 288 investors decreased positions by around 13,191,073 shares, while 134 investors held positions by with 159,785,259 shares. The mentioned changes placed institutional holdings at 186,235,709 shares, according to the latest SEC report filing. PFG stock had 135 new institutional investments in for a total of 2,254,205 shares, while 49 institutional investors sold positions of 623,895 shares during the same period.