Principal Financial Group, Inc. (NYSE:PFG) Receives Consensus Rating of “Hold” from Brokerages

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $85.54.

Several research firms recently weighed in on PFG. Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. Piper Sandler upped their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company cut their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets began coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th.

Hedge Funds Weigh In On Principal Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of PFG. Curio Wealth LLC bought a new position in shares of Principal Financial Group during the 4th quarter valued at $29,000. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group during the 3rd quarter valued at $33,000. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter worth $33,000. Navigoe LLC bought a new position in Principal Financial Group in the 4th quarter worth $37,000. Finally, Covestor Ltd raised its holdings in Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock worth $42,000 after purchasing an additional 319 shares during the period. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Up 1.1 %

NYSE PFG opened at $86.60 on Wednesday. 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 market cap of $19.81 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. The stock has a 50-day moving average of $80.19 and a 200-day moving average of $82.20. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.97.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.46%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is presently 43.71%.

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.