Brokerages Set Principal Financial Group, Inc. (NASDAQ:PFG) PT at $106.67

Shares of Principal Financial Group, Inc. (NASDAQ:PFG) have been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $108.8333.

A number of research firms recently commented on PFG. JPMorgan Chase & Co. increased their price target on Principal Financial Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Principal Financial Group in a research note on Thursday, September 3rd. Jefferies Financial Group boosted their price objective on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Wells Fargo & Company decreased their target price on Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Finally, Barclays raised their target price on Principal Financial Group from $87.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th.

Principal Financial Group Price Performance

Shares of PFG stock opened at $116.17 on Thursday. The stock’s fifty day simple moving average is $112.88 and its 200 day simple moving average is $103.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $24.87 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.05 and a beta of 0.86. Principal Financial Group has a one year low of $77.90 and a one year high of $121.18.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.17. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.During the same period in the prior year, the company posted $2.16 earnings per share. On average, analysts expect that Principal Financial Group will post 9.62 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, September 3rd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s dividend payout ratio is 47.73%.

Hedge Funds Weigh In On Principal Financial Group

A number of large investors have recently modified their holdings of PFG. DV Equities LLC acquired a new position in Principal Financial Group during the 4th quarter worth $25,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Principal Financial Group during the first quarter worth $27,000. Ancora Advisors LLC bought a new stake in shares of Principal Financial Group during the second quarter worth $27,000. Finally, MBM Wealth Consultants LLC acquired a new position in shares of Principal Financial Group during the first quarter valued at $28,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

About Principal Financial Group

Principal Financial Group, Inc is a global financial services company headquartered in Des Moines, Iowa. Founded in 1879, the company provides investment management, retirement, insurance and financial wellness solutions to businesses, individuals and institutional investors.

Principal offers employer-sponsored retirement plans, including defined contribution and defined benefit programs, as well as pension risk transfer solutions. Its insurance products and services include group benefits, individual life insurance and disability insurance.