Brokerages Set Principal Financial Group, Inc. (NYSE:PFG) Target Price at $80.30

Principal Financial Group, Inc. (NYSE:PFGGet Free Report) has been given a consensus recommendation of “Reduce” by the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $80.30.

PFG has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Piper Sandler lifted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley lifted their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Evercore ISI lifted their price target on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th.

Check Out Our Latest Stock Report on PFG

Principal Financial Group Trading Down 1.1 %

PFG stock opened at $77.37 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group has a 12-month low of $66.21 and a 12-month high of $86.79. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.85 and a beta of 1.23. The business’s 50-day moving average is $81.30 and its 200 day moving average is $80.16.

Principal Financial Group (NYSE:PFGGet Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the business earned $1.48 earnings per share. On average, sell-side analysts anticipate that Principal Financial Group will post 7.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd will be paid a $0.71 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.84 annualized dividend and a dividend yield of 3.67%. Principal Financial Group’s payout ratio is 54.20%.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its stake in shares of Principal Financial Group by 5.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 76,615 shares of the company’s stock worth $6,497,000 after acquiring an additional 4,065 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Principal Financial Group by 242.0% in the first quarter. Cetera Advisors LLC now owns 32,533 shares of the company’s stock worth $2,808,000 after acquiring an additional 23,020 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Principal Financial Group by 108.1% in the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after acquiring an additional 27,827 shares in the last quarter. PGGM Investments grew its stake in shares of Principal Financial Group by 2.1% in the first quarter. PGGM Investments now owns 48,179 shares of the company’s stock worth $4,158,000 after acquiring an additional 1,014 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Principal Financial Group during the first quarter worth $13,996,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

About Principal Financial Group

(Get Free Report

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.

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Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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