Principal Financial Group, Inc. (NYSE:PFG) Receives Average Rating of "Hold" from Analysts

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has earned an average recommendation of "Hold" from the thirteen analysts that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $83.85.

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price 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. Piper Sandler lifted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Barclays decreased their price target on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company boosted their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 29th.

Institutional Investors Weigh In On Principal Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in PFG. Quantbot Technologies LP boosted its holdings in Principal Financial Group by 2,064.3% in the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after purchasing an additional 141,447 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $304,000. Raymond James Financial Inc. purchased a new position in shares of Principal Financial Group in the 4th quarter valued at $15,821,000. Twinbeech Capital LP acquired a new stake in Principal Financial Group during the 4th quarter worth $5,613,000. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in Principal Financial Group by 53.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,695 shares of the company's stock worth $750,000 after acquiring an additional 3,387 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $76.73 on Tuesday. Principal Financial Group has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. 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 has a 50 day moving average price of $76.47 and a 200 day moving average price of $79.88. The stock has a market capitalization of $17.20 billion, a P/E ratio of 11.49, a PEG ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS 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 period in the previous year, the business earned $1.65 EPS. Equities research analysts forecast that Principal Financial Group will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.96%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. Principal Financial Group's payout ratio is 65.10%.

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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