Principal Financial Group (NYSE:PFG) Price Target Raised to $101.00 at JPMorgan Chase & Co.

Principal Financial Group (NYSE:PFG - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $92.00 to $101.00 in a research note released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PFG has been the topic of a number of other reports. Keefe, Bruyette & Woods lifted their price objective on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Morgan Stanley lifted their price objective on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research report on Monday, May 19th. UBS Group cut their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their price objective on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Finally, Barclays lifted their price objective on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average target price of $83.75.

Principal Financial Group Price Performance

Shares of NYSE PFG traded down $1.15 during trading hours on Tuesday, reaching $80.46. 268,140 shares of the stock traded hands, compared to its average volume of 1,426,014. The company has a market capitalization of $18.04 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 52-week low of $68.39 and a 52-week high of $91.97. The company's 50-day simple moving average is $78.41 and its two-hundred day simple moving average is $79.71.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the firm 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 business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.78%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, June 2nd. Principal Financial Group's payout ratio is 65.10%.

Institutional Investors Weigh In On Principal Financial Group

Several hedge funds have recently added to or reduced their stakes in PFG. Tompkins Financial Corp purchased a new position in shares of Principal Financial Group in the first quarter worth $55,000. SG Americas Securities LLC bought a new stake in shares of Principal Financial Group in the first quarter worth $943,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Principal Financial Group by 2.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 526,649 shares of the company's stock worth $44,433,000 after acquiring an additional 13,483 shares during the period. Quantbot Technologies LP grew its holdings in shares of Principal Financial Group by 2,064.3% in the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock worth $11,480,000 after acquiring an additional 141,447 shares during the period. Finally, Blackhawk Capital Partners LLC. bought a new stake in shares of Principal Financial Group in the first quarter worth $281,000. 75.08% of the stock is owned by institutional investors.

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.