Barclays Believes Principal Financial (PFG) Won’t Stop Here


Barclays analyst Tracy Benguigui maintained a Buy rating on Principal Financial (PFG) on February 22 and set a price target of $60.00. The company’s shares closed last Tuesday at $58.68, close to its 52-week high of $60.52.

According to TipRanks.com, Benguigui is a 2-star analyst with an average return of 4.6% and a 66.7% success rate. Benguigui covers the Financial sector, focusing on stocks such as American International Group, Brighthouse Financial, and Prudential Financial.

Currently, the analyst consensus on Principal Financial is a Hold with an average price target of $56.60.

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Based on Principal Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.77 billion and net profit of $473 million. In comparison, last year the company earned revenue of $4.05 billion and had a net profit of $301 million.

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Principal Financial Group, Inc. is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals. It operates its business through following segments: Retirement and Income Solutions, Principal Global Investors, Principal International, U.S. Insurance Solutions and Corporate. The Retirement and Income Solutions segment provides retirement and related financial products and services primarily to businesses, their employees and other individuals. The Principal Global Investors segment provides asset management services to asset accumulation business, insurance operations, corporate segment and third party clients and also refers to mutual fund business. The Principal International segment offers pension accumulation products and services, mutual funds, asset management, income annuities and life insurance accumulation products. The U.S. Insurance Solutions segment operates through two divisions. Specialty benefits insurance division consists of group dental and vision insurance, individual and group disability insurance, group life insurance and non-medical fee-for-service claims administration. Individual life insurance division provides solutions for small & medium-sized businesses. The Corporate segment manages the assets representing capital that has not been allocated to any other segment. The company was founded by Edward A. Temple in 1879 and is headquartered in Des Moines, IA.

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