Principal Financial Group, Inc. (NYSE:PFG) Given Consensus Recommendation of "Reduce" by Analysts

Shares of Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) have received an average rating of "Reduce" from the twelve ratings firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $83.75.

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Barclays increased their price objective on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $87.00 to $90.00 and gave the stock a "market perform" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Morgan Stanley raised their price target on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research report on Monday, May 19th.

Principal Financial Group Trading Down 1.5%

Shares of PFG stock opened at $80.37 on Friday. The company's 50-day moving average price is $78.48 and its 200-day moving average price is $79.73. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.76 and a beta of 0.99. Principal Financial Group has a twelve month low of $68.39 and a twelve month high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). 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 business posted $1.65 EPS. As a group, equities analysts predict that Principal Financial Group will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 2nd were paid a $0.76 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Monday, June 2nd. Principal Financial Group's payout ratio is currently 65.10%.

Hedge Funds Weigh In On Principal Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of PFG. Atria Investments Inc acquired a new position in shares of Principal Financial Group in the 4th quarter valued at approximately $304,000. Proficio Capital Partners LLC acquired a new position in Principal Financial Group during the 4th quarter worth $4,632,000. Raymond James Financial Inc. acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at $15,821,000. Daiwa Securities Group Inc. lifted its holdings in shares of Principal Financial Group by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 29,295 shares of the company's stock valued at $2,268,000 after buying an additional 1,772 shares during the period. Finally, Independent Advisor Alliance raised its position in shares of Principal Financial Group by 19.4% during the fourth quarter. Independent Advisor Alliance now owns 4,573 shares of the company's stock worth $354,000 after purchasing an additional 742 shares during the period. 75.08% of the stock is 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.

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