Principal Financial Group, Inc. (NYSE:PFG) Receives $85.58 Average Target Price from Analysts

Principal Financial Group, Inc. (NYSE:PFG) has been given an average recommendation of “Hold” by the twelve analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $85.42.

Several analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Bank of America dropped their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company boosted their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays boosted their price objective on Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Citigroup boosted their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd.

Principal Financial Group Stock Up 2.0 %

Shares of Principal Financial Group stock opened at $89.20 on Thursday. The business’s fifty day moving average price is $81.07 and its two-hundred day moving average price is $81.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $20.66 billion, a P/E ratio of 17.32, a PEG ratio of 0.92 and a beta of 1.19. Principal Financial Group has a 1-year low of $66.21 and a 1-year high of $89.51.

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

Principal Financial Group Increases Dividend

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

Institutional Trading of Principal Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its position in shares of Principal Financial Group by 6.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock worth $25,624,000 after purchasing an additional 18,368 shares during the last quarter. Cetera Investment Advisers raised its holdings in Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after acquiring an additional 27,827 shares in the last quarter. Sei Investments Co. raised its holdings in Principal Financial Group by 59.4% in the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock valued at $2,095,000 after acquiring an additional 9,048 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Principal Financial Group by 8.6% in the 1st quarter. Sound Income Strategies LLC now owns 181,776 shares of the company’s stock valued at $15,689,000 after acquiring an additional 14,339 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Principal Financial Group in the 1st quarter valued at approximately $1,097,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

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.