Piper Sandler Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG) had its price target raised by Piper Sandler from $90.00 to $93.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also issued reports on the stock. Barclays raised their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $85.38.

Principal Financial Group Trading Up 2.5 %

Shares of Principal Financial Group stock opened at $84.38 on Monday. Principal Financial Group has a 1 year low of $72.21 and a 1 year high of $91.97. The company has a market capitalization of $19.30 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.79 and a beta of 1.22. The business has a 50 day moving average price of $80.04 and a 200 day moving average price of $82.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a $0.75 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.71%.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors have recently made changes to their positions in the stock. AMF Tjanstepension AB boosted its position in shares of Principal Financial Group by 28.7% during the third quarter. AMF Tjanstepension AB now owns 290,723 shares of the company’s stock worth $24,997,000 after buying an additional 64,915 shares during the period. Atomi Financial Group Inc. bought a new stake in Principal Financial Group during the third quarter worth approximately $209,000. CWM LLC boosted its holdings in Principal Financial Group by 10.0% during the third quarter. CWM LLC now owns 12,410 shares of the company’s stock worth $1,066,000 after buying an additional 1,125 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Principal Financial Group by 434.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,182 shares of the company’s stock worth $359,000 after buying an additional 3,400 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Principal Financial Group by 2,192.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the company’s stock valued at $256,000 after acquiring an additional 2,850 shares during the last quarter. 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.