Principal Financial Group (NYSE:PFG) Price Target Raised to $86.00

Principal Financial Group (NYSE:PFG) had its price objective raised by Wells Fargo & Company from $85.00 to $86.00 in a report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

PFG has been the subject of a number of other research reports. Barclays increased their price objective on shares of Principal Financial Group from $74.00 to $75.00 and gave the stock an underweight rating in a research report on Wednesday. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $88.00 to $86.00 and set a market perform rating on the stock in a report on Tuesday, July 30th. Raymond James upgraded Principal Financial Group from a market perform rating to a strong-buy rating and set a $99.00 target price for the company in a report on Tuesday, July 9th. Citigroup boosted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a sell rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley cut their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an equal weight rating on the stock in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $85.42.

Principal Financial Group Trading Up 2.0 %

Shares of Principal Financial Group stock opened at $89.20 on Thursday. The stock has a 50 day moving average of $81.07 and a 200 day moving average of $81.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.92 and a beta of 1.19. Principal Financial Group has a fifty-two week low of $66.21 and a fifty-two week high of $89.51.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. As a group, research analysts predict that Principal Financial Group will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were given a dividend of $0.72 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, September 5th. Principal Financial Group’s dividend payout ratio is currently 55.92%.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors have recently added to or reduced their stakes in the business. EdgeRock Capital LLC acquired a new stake in Principal Financial Group during the second quarter worth approximately $26,000. Riverview Trust Co purchased a new position in shares of Principal Financial Group in the 1st quarter valued at $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Principal Financial Group during the 4th quarter worth $33,000. Family Firm Inc. purchased a new stake in Principal Financial Group in the second quarter valued at $33,000. Finally, Salomon & Ludwin LLC boosted its stake in Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock valued at $43,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

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.