Principal Financial Group, Inc. (NASDAQ:PFG) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Principal Financial Group (NASDAQ:PFG) has a consensus "Hold" rating from 10 analysts (1 sell, 7 hold, 2 buy) with an average 12‑month target of $93.89.
• CEO Deanna D. Strable‑Soethout sold 7,340 shares at about $95 on Jan 30 (a 5.09% reduction), and insiders have sold 24,665 shares worth $2.32M in the last 90 days while owning 1.08% of the company.
• The firm paid a $0.80 quarterly dividend (annualized $3.20) for a 3.5% yield and a 60.72% payout ratio; most recent quarter showed EPS of $2.20 and revenue of $4.58B, with a PE of 17.42 and market cap of $19.89B.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) has received a consensus recommendation of "Hold" from the ten research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $93.8889.

A number of brokerages have recently commented on PFG. Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Friday. Keefe, Bruyette & Woods reissued a "hold" rating and issued a $92.00 price objective on shares of Principal Financial Group in a research report on Thursday, March 26th. Weiss Ratings raised shares of Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, December 29th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $103.00 price objective on shares of Principal Financial Group in a research report on Monday, January 5th. Finally, Piper Sandler boosted their price objective on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 23rd.

Insider Activity at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the business's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the sale, the chief executive officer owned 136,828 shares of the company's stock, valued at $12,998,660. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 24,665 shares of company stock valued at $2,324,710 over the last 90 days. Insiders own 1.08% of the company's stock.

Institutional Trading of Principal Financial Group

A number of institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in Principal Financial Group by 1.8% during the fourth quarter. Hsbc Holdings PLC now owns 812,064 shares of the company's stock worth $71,720,000 after acquiring an additional 14,356 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Principal Financial Group by 2.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 19,543 shares of the company's stock worth $1,724,000 after acquiring an additional 446 shares in the last quarter. Corient Private Wealth LLC raised its position in Principal Financial Group by 5.7% during the fourth quarter. Corient Private Wealth LLC now owns 39,319 shares of the company's stock worth $3,469,000 after acquiring an additional 2,127 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Principal Financial Group during the fourth quarter worth $109,000. Finally, DGS Capital Management LLC bought a new stake in Principal Financial Group during the fourth quarter worth $375,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $91.80 on Monday. The stock has a market capitalization of $19.89 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. Principal Financial Group has a twelve month low of $69.80 and a twelve month high of $97.88. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $91.42 and a 200-day moving average of $87.88.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share for the quarter. The company had revenue of $4.58 billion during the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Principal Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, March 11th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, March 11th. Principal Financial Group's payout ratio is currently 60.72%.

Principal Financial Group Company Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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