|Bid||54.81 x 1400|
|Ask||56.78 x 1800|
|Day's Range||55.08 - 55.78|
|52 Week Range||40.42 - 62.07|
|Beta (3Y Monthly)||1.43|
|PE Ratio (TTM)||10.30|
|Earnings Date||Apr 25, 2019|
|Forward Dividend & Yield||2.16 (4.30%)|
|1y Target Est||53.08|
Principal Financial (PFG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Wells Fargo Bank, a Wells Fargo & Company (WFC) arm, agrees to sell its retirement business to Principal Financial Group for $1.2 billion.
Combining the Wells Fargo and Principal businesses will create one of the largest U.S. retirement services providers, with 7.5 million customers, the companies said in separate statements announcing the deal. The Des Moines, Iowa-based company will take over Wells' contribution, benefit, executive deferred compensation, employee stock ownership plans, institutional trust and custody and institutional asset advisory businesses.
Wells Fargo Bank, a subsidiary of Wells Fargo & Co., has agreed to sell its Institutional Retirement and Trust business to Des Moines, Iowa-based Principal Financial Group for $1.2 billion.
Wells Fargo is divesting its IRT business — which includes its retirement plan recordkeeping and administrative services, executive deferred compensation, institutional trust and custody and institutional asset advisory businesses — for $1.2 billion. The bank also said Principal Financial should gain new scale from combining its IRT business. In addition to increased scale, Principal said it will gain a "strong foothold" among mid-sized employers.
AM Best has commented that the Credit Ratings (ratings) of Principal Financial Group, Inc. [Nasdaq:PFG] (headquartered in Des Moines, IA) and its insurance subsidiaries (Principal) remain unchanged following the announcement that the company has signed a definitive agreement to acquire Wells Fargo’s Investment Retirement and Trust business. The transaction increases Principal’s U.S. retirement business’ assets under administration by approximately $820 billion from almost four million plan participants across retirement and non-retirement trust and custody, defined benefit and defined contribution accounts. AM Best notes that the acquired business will be held outside Principal’s domestic insurance operations upon transaction close with the expectation that this business will be transitioned through its domestic insurance entities over time.
Wells Fargo shares were flat, moving down 0.04% to $48.86 apiece in premarket trading Tuesday. Principal Financial shares were down 0.18% to $53.22 apiece in premarket action. The cash deal allows the $14.8 billion market cap Principal Financial to scale aggressively, as the deal will double its retirement business.
Wells Fargo & Company (WFC) announced today that Wells Fargo Bank, N.A. has entered into an agreement with Principal Financial Group® (PFG) to sell its Institutional Retirement & Trust (IRT) business, which includes its retirement plan recordkeeping and administrative services (401(k) and pension plans), executive deferred compensation (non-qualified plans), institutional trust and custody and institutional asset advisory businesses. The transaction, which is expected to close early in the third quarter of 2019, subject to receipt of required regulatory approval, will create one of the largest retirement providers in the industry.
Principal Financial Group said Tuesday it has agreed to acquire Wells Fargo & Co.s Institutional Retirement & Trust business for $1.2 billion. The deal will double the size of Principal's U.S. retirement business measured by total recordkeeping assets, the company said in a statement. "In addition to increased scale, Principal will gain a strong foothold with mid-sized employers as more than two-thirds of Wells Fargo's institutional retirement assets are in plans ranging from $10 million to $1 billion," said the statement. The deal is expected to boost net income and non-GAAP operating per-share earnings in 2020 and will be financed with a mix of cash and senior debt financing. The deal is expected to close in the third quarter. Wells Fargo shares were slightly higher premarket, while Principal's shares were not yet active.
Definitive agreement includes Wells Fargo’s defined contribution, defined benefit, executive deferred compensation, employee stock ownership plans, institutional trust and custody and institutional asset advisory businesses. Today, Principal Financial Group® (PFG) announced a definitive agreement with Wells Fargo & Company (WFC) to acquire its Institutional Retirement & Trust business.
Although the market spent most of yesterday in the red, when push came to shove as the closing bell approached though, the bulls ended up winning. It was a low-volume, lethargic effort, but the S&P 500 managed to end the day up 0.1%.Snap (NYSE:SNAP) set the pace, and the tone, gaining 3.6% as investors continue to celebrate the prospects and potential of adding mobile gaming to its app. New Age Beverages (NASDAQ:NBEV) was the headliner on Monday though, up more than 38% on the heels of news that some of its "Marley" beverages would be sold at Walmart (NYSE:WMT).At the other side of the spectrum, General Electric (NYSE:GE) fell more than 5% after J.P. Morgan analyst Stephen Tusa reminded investors exactly why he's still bearish on the industrial giant's rebound effort. He downgraded GE stock to "Underweight," and simultaneously lowered his price target to $5.00.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHeaded into Tuesday's trading, however, it's stock charts of Cabot Oil & Gas (NYSE:COG), Principal Financial Group (NASDAQ:PFG) and Westrock (NYSE:WRK) that are worth the closest looks. Here's why, and what to look for. Westrock (WRK)With nothing more than a quick glance, Westrock looks like it's still stuck in a downtrend, and just chopping around. And, maybe it is. * 7 High-Risk Stocks With Big Potential Rewards But it's teetering close enough to a major breakout move that a closer look is merited. A little more bullishness could carry WRK over a key hump and unleash months' worth of pent-up buying. Click to Enlarge • One of those ceiling is $40.13, plotted with a horizontal dashed line on the daily chart. Shares have been stuck under that level since mid-February, but Westrock is increasingly putting pressure on that resistance.• The other technical resistance coming into play again is the gray 100-day moving average line, currently at $40.53. The last time this line was brushed in September it ended serving as the start of a major tumble.• If the potential breakout takes hold, the most likely "next" target would be around $45.60, where the white 200-day moving average line is, and the line that's touched all the key peaks since early 2018 currently lies. That ceiling should be adjusted lower as needed. Cabot Oil & Gas (COG)Back on Feb. 22, Cabot Oil & Gas was featured as a turnaround candidate. It struggled for the first half of last year, but over the course of the latter half of 2018 and early 2019, the bulls chipped away at a turnaround.That didn't happen. In fact, the sellers took charge that very day. The pullback, however, was stopped and reversed exactly where it needed to, and the stock eventually worked its way back above a key technical ceiling. Thanks to yesterday's action, the budding uptrend is even better solidified, finding support once again at a key technical support level to log the best daily close in over a year. Click to Enlarge • The driving force of the new uptrend is the floor that's tagged all the lows going back to the last day of last year, plotted in red. That was the reversal point last week too.• Zooming out to the daily chart puts things in perspective. This is the beginning of the second push out of a U-shaped reversal effort. This one may unwind the 2014-2015 selloff that 2017's effort couldn't.• While Monday's volume was better than the volume seen in the past few weeks, it's still below average and not necessarily enough of a majority opinion to really provide a rock-solid undertow. Principal Financial Group (PFG)Last year was a particularly tough one for Principal Financial Group, with PFG stock falling from a peak near $76 to December's low around $41. Shares have snapped back in the meantime, but that has not been terribly impressive, as most stocks have been rallying since January.The rebound effort unfurling here is about to get a whole lot more interesting, however, in a good way. Shares are knocking on the door of a well-defined technical ceiling that, if hurdled, could spur a major wave of buying that cuts into much more of last year's losses. Click to Enlarge • The ceiling in question is $53.50, plotted in red on both stock charts. As of Monday, the rally effort has balked there for a third time.• Although it wouldn't materialize for a few more days, and until after a break above $53.50, we're nearing a so-called golden cross where the purple 50-day moving average line moves above the white 200-day line.• If Principal shares do break out, the next checkpoint target is around $61, plotted in yellow on the weekly chart. That's where shares hint a key ceiling in September of last year.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Data Center Buys That Deliver Sizable Income * 7 High-Risk Stocks With Big Potential Rewards * 3 Marijuana Stocks to Watch as New York, New Jersey Delay Legalization Compare Brokers The post 3 Big Stock Charts for Tuesday: Westrock, Cabot Oil & Gas and Principal Financial Group appeared first on InvestorPlace.
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Is Principal Financial Group Inc (NASDAQ:PFG) ready to rally soon? The best stock pickers are in a bullish mood. The number of bullish hedge fund bets improved by 3 in recent months. Our calculations also showed that PFG isn't among the 30 most popular stocks among hedge funds. At the moment there are tons of […]
U.S. equities are skidding sideways on Wednesday as traders worry about the volatility being seen in the bond market, with long-term Treasury yields on the slide once more. This is a strong recession signal, raising fears that the Federal Reserve did permanent damage with its rate hike campaign.With the S&P 500 still hanging around the 2,800 level, as the Dow Jones Industrial Average remains near the 26,000 level, investors are understandably getting impatient. What a perfect time to reconsider the benefits of dividend stocks, which literally pay you to wait for the market to resume its upward march.I screened for cheap dividend stocks that are showing some upward movement, trading above their 50-day moving average, with a 3% or higher dividend yield, positive earnings growth, and a reasonable price-to-earnings and price-to-sales valuation.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 F-Rated Stocks to Sell in This Narrow Market Here are five to dividend stocks watch: Ford (F) Click to Enlarge Source: Shutterstock Ford (NYSE:F) shares look ready to break up and out of a consolidation going back to October as F inches closer to its 200-day moving average. Ford stock carries a 6.9% dividend yield and trades at a price-to-sales multiple of just 0.2. The company is in the midst of changing its product lineup to focus on electrified vehicles, SUVs and trucks including an upcoming Mustang-inspired electric SUV.The company will next report results on April 24 after the close. Analysts are looking for earnings of 26 cents per share on revenues of $36.53 billion. When the company last reported on Jan. 23, earnings of 30 cents per share matched expectations on a 0.5% rise in revenues. Principal Financial Group (PFG) Click to Enlarge Source: Shutterstock Shares of Principal Financial Group (NASDAQ:PFG), an asset management firm, are in the midst of a consolidation range near its 200-day moving average. Watch for a rise off of its 50-day moving average to return shares to levels not seen since October for a 20% move from here. The stock provides a 4.3% dividend yield and trades at a price-to-sales ratio of just 1. * 10 Tech Stocks With Key Products That Face an Uncertain Future The company will next report results on April 30 after the close. Analysts are looking for earnings of $1.25 per share on revenues of $3.68 billion. When the company last reported on Jan. 29, earnings of $1.11 missed estimates by 18 cents on revenues of $3.5 billion. The Gap (GPS) Click to Enlarge Source: Shutterstock Shares of Gap (NYSE:GPS) have been stabilizing and showing signs of life since management announced it would spin off its popular Old Navy brand into a separate corporate entity. The stock carries a 3.7% dividend yield and trades at 0.6 price-to-sales multiple.The company will next report results on May 30 after the close. Analysts are looking for earnings of 33 cents per share on revenues of $3.8 billion. When the company last reported on Feb. 28, earnings of 72 cents per share beat estimates by 3 cents on a 3.2% drop in revenues. Fidelity National Financial (FNF) Click to Enlarge Source: Shutterstock Shares of Fidelity National Financial (NYSE:FNF) are breaking out of a three-month consolidation below its 200-day moving average, pushing back to levels not seen since October. An extension to its October high would be worth a further 10% gain from here. The stock carries a 3.3% dividend yield and trades at a 1.3 price-to-sales multiple. * 7 SaaS Stocks to Buy for Long-Term Gains The company will next report results on May 15 after the close. Analysts are looking for earnings of 40 cents per share on revenues of $1.65 billion. When the company last reported on Feb. 13, earnings of 63 cents per share missed estimates by 5 cents on a 14.3% decline in revenues. Xerox (XRX) Click to Enlarge Source: Shutterstock Shares of Xerox (NYSE:XRX) are consolidating their post-December uptrend and look ready for a resumption of upward momentum as buyers contend with overhead resistance from its 2017 and 2018 highs. The company recently shrugged off of a downgrade by analysts at Standpoint Research. The stock trades at a forward price-to-earnings multiple of less than 8 and carries a 3.1% dividend yield.The company will next report results on April 30 before the open. Analysts are looking for earnings of 85 cents per share on revenues of $2.32 billion. When the company last reported on Jan. 29, earnings of $1.14 beat estimates by 12 cents on a 7.8% decline in revenues.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks With Key Products That Face an Uncertain Future * 7 SaaS Stocks to Buy for Long-Term Gains * 5 Semiconductor Stocks That Are Scorching Hot Buys Compare Brokers The post 5 Cheap Dividend Stocks to Buy Now appeared first on InvestorPlace.
NEW YORK, March 27, 2019 -- In new independent research reports released early this morning, Capital Review released its latest key findings for all current investors, traders,.
Principal Financial Group® launched the Principal Guaranteed Option (PGO), a new addition to its suite of fixed income investment options focused on capital preservation and return. The Principal Guaranteed Option boasts a compelling crediting rate at 3.05%* while providing more choice and flexibility to advisors and plan sponsors as they determine a fixed income strategy for their retirement plan.