Brokerages Set Principal Financial Group, Inc. (NYSE:PFG) Price Target at $86.90

Key Points

• Principal Financial Group, Inc. has received a consensus rating of "Reduce", with three analysts recommending sell, five hold, and two buy ratings, while the average twelve-month target price is $86.90.
• The company reported earnings of $2.16 per share for the latest quarter, exceeding estimates of $1.97, and predicts a full fiscal year EPS of 8.5.
• Principal Financial Group recently announced an increase in its quarterly dividend to $0.78 per share, providing an annual yield of approximately 3.9%.

Shares of Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) have earned an average rating of "Reduce" from the ten analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $86.90.

PFG has been the subject of a number of recent analyst reports. Barclays increased their price objective on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Piper Sandler increased their price objective on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company dropped their target price on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a report on Monday, August 4th.

Principal Financial Group Price Performance

PFG stock traded up $1.26 on Friday, reaching $80.66. The company had a trading volume of 105,874 shares, compared to its average volume of 1,386,682. Principal Financial Group has a 1 year low of $68.39 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company's fifty day moving average is $79.30 and its 200 day moving average is $79.27. The company has a market cap of $17.97 billion, a P/E ratio of 12.09, a PEG ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the previous year, the company posted $1.63 earnings per share. On average, research analysts forecast that Principal Financial Group will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.78 per share. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, September 4th. Principal Financial Group's dividend payout ratio is 62.78%.

Institutional Trading of Principal Financial Group

Several institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its stake in shares of Principal Financial Group by 5.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 31,603 shares of the company's stock valued at $2,509,000 after purchasing an additional 1,544 shares during the last quarter. State of Wyoming grew its holdings in Principal Financial Group by 11.7% in the 2nd quarter. State of Wyoming now owns 2,415 shares of the company's stock valued at $192,000 after buying an additional 252 shares during the last quarter. Caxton Associates LLP raised its holdings in Principal Financial Group by 112.0% in the 2nd quarter. Caxton Associates LLP now owns 15,581 shares of the company's stock valued at $1,238,000 after acquiring an additional 8,230 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Principal Financial Group in the 2nd quarter valued at approximately $45,000. Finally, Rexford Capital Inc. acquired a new position in Principal Financial Group in the 2nd quarter valued at approximately $354,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.