Brokerages Set Principal Financial Group, Inc. (NYSE:PFG) Price Target at $83.85

Shares of Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $83.85.

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

Principal Financial Group Trading Down 1.5%

NYSE PFG traded down $1.22 on Friday, hitting $77.67. 1,069,057 shares of the company were exchanged, compared to its average volume of 1,322,797. The company's 50 day moving average price is $77.34 and its 200-day moving average price is $80.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market capitalization of $17.41 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. 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 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 quarter last year, the firm earned $1.65 earnings per share. Analysts predict that Principal Financial Group will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.76 per share. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.91%. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

Institutional Investors Weigh In On Principal Financial Group

Several large investors have recently made changes to their positions in PFG. Victory Capital Management Inc. lifted its stake in Principal Financial Group by 802.2% in the first quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after acquiring an additional 3,296,608 shares during the last quarter. Norges Bank bought a new position in shares of Principal Financial Group during the 4th quarter valued at $217,021,000. Goldman Sachs Group Inc. lifted its stake in shares of Principal Financial Group by 114.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company's stock valued at $220,471,000 after purchasing an additional 1,393,008 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Principal Financial Group by 73.5% in the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after purchasing an additional 627,865 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Principal Financial Group in the first quarter worth $47,986,000. Institutional investors own 75.08% of the company's stock.

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.