Analysts Set Principal Financial Group, Inc. (NYSE:PFG) Target Price at $85.92

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been given a consensus recommendation of “Hold” by the twelve analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $85.92.

Several equities analysts recently issued reports on the company. Bank of America dropped their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley cut their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Piper Sandler lifted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $87.09 on Friday. 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 company has a fifty day simple moving average of $86.41 and a 200-day simple moving average of $82.45. The stock has a market cap of $19.92 billion, a P/E ratio of -96.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. Principal Financial Group has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.72 EPS. Equities analysts expect that Principal Financial Group will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a $0.73 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is presently -324.44%.

Institutional Trading of Principal Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 2nd quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Principal Financial Group during the second quarter valued at $32,000. Family Firm Inc. bought a new stake in shares of Principal Financial Group during the second quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group in the third quarter worth about $33,000. Finally, Innealta Capital LLC bought a new position in Principal Financial Group in the 2nd quarter valued at about $43,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.