Principal Financial Group, Inc. (NYSE:PFG) Receives $85.92 Average Price Target from Brokerages

Principal Financial Group, Inc. (NYSE:PFG) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $85.92.

PFG has been the subject of a number of research reports. Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler upped their target price on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th.

Institutional Trading of Principal Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Principal Financial Group by 15.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,764 shares of the company’s stock valued at $1,870,000 after buying an additional 2,933 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Principal Financial Group by 3.0% during the third quarter. Principal Financial Group Inc. now owns 231,277 shares of the company’s stock valued at $19,867,000 after acquiring an additional 6,817 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Principal Financial Group in the third quarter valued at about $50,000. CWA Asset Management Group LLC bought a new position in shares of Principal Financial Group in the third quarter worth about $454,000. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Principal Financial Group by 1.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,257 shares of the company’s stock worth $1,311,000 after purchasing an additional 277 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

PFG stock opened at $80.54 on Friday. The firm has a 50 day simple moving average of $82.96 and a 200 day simple moving average of $83.32. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.97. The stock has a market cap of $18.17 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 3.72%. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is 44.91%.

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.