Principal Financial Group, Inc. (NYSE:PFG) Receives $81.50 Consensus Price Target from Brokerages

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been assigned a consensus recommendation of “Reduce” from the ten research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $82.60.

A number of analysts have recently weighed in on PFG shares. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $88.00 to $96.00 in a report on Tuesday. Piper Sandler raised their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods raised their price objective on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Finally, Evercore ISI raised their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $79.16 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $80.76 and a 200-day moving average of $80.56. The firm has a market cap of $18.55 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.86 and a beta of 1.21. Principal Financial Group has a 1-year low of $66.21 and a 1-year high of $86.79.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same quarter in the prior year, the company posted $1.48 earnings per share. Sell-side analysts expect that Principal Financial Group will post 7.45 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.71 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.59%. Principal Financial Group’s dividend payout ratio (DPR) is currently 54.20%.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Spire Wealth Management increased its position in shares of Principal Financial Group by 152.0% during the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $31,000. Fortis Group Advisors LLC bought a new stake in shares of Principal Financial Group during the third quarter valued at approximately $33,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $34,000. 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.