Keefe, Bruyette & Woods Cuts Principal Financial Group (NYSE:PFG) Price Target to $90.00

Principal Financial Group (NYSE:PFG) had its target price reduced by Keefe, Bruyette & Woods from $93.00 to $90.00 in a research report released on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other brokerages also recently commented on PFG. Bank of America lowered their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Barclays increased their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Morgan Stanley reiterated an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. JPMorgan Chase & Co. upgraded 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 report on Tuesday, January 7th. Finally, Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average price target of $84.75.

Principal Financial Group Stock Down 2.5 %

Shares of Principal Financial Group stock opened at $76.34 on Friday. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of -84.82, a P/E/G ratio of 0.92 and a beta of 1.22. The stock has a 50-day simple moving average of $81.79 and a 200-day simple moving average of $82.17. Principal Financial Group has a 52-week low of $72.21 and a 52-week high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the business posted $1.72 EPS. On average, equities research analysts expect that Principal Financial Group will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.73 per share. The ex-dividend date was Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.82%. Principal Financial Group’s dividend payout ratio (DPR) is presently -324.44%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Peterson Financial Group Inc. bought a new stake in Principal Financial Group during the 3rd quarter worth about $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter worth about $43,000. Sugarloaf Wealth Management LLC grew its position in shares of Principal Financial Group by 53.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter worth about $45,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Principal Financial Group during the 3rd quarter worth about $50,000. 75.08% of the stock is owned by institutional investors.

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.