Analysts Set Principal Financial Group, Inc. (NYSE:PFG) Price Target at $85.58

Principal Financial Group, Inc. (NYSE:PFG) has earned an average rating of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $85.58.

PFG has been the subject of a number of research analyst reports. Royal Bank of Canada upped their target price on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lowered their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Barclays increased their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Citigroup lifted their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd.

Principal Financial Group Stock Down 0.6 %

Shares of NYSE:PFG opened at $85.45 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $84.95 and a 200-day simple moving average of $81.99. The company has a market capitalization of $19.54 billion, a PE ratio of -94.94, a P/E/G ratio of 0.99 and a beta of 1.20. Principal Financial Group has a twelve month low of $68.69 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period last year, the firm earned $1.72 earnings per share. On average, equities analysts predict that Principal Financial Group will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.73 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.42%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in Principal Financial Group in the second quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth $33,000. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group during the 3rd quarter worth $33,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Principal Financial Group by 319.3% in the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

About Principal Financial Group

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.