Principal Financial Group (NYSE:PFG) Price Target Raised to $95.00

Principal Financial Group (NYSE:PFG) had its price objective boosted by Piper Sandler from $93.00 to $95.00 in a research note released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

PFG has been the subject of several other research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Barclays upped their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a sell rating, seven 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, the stock has an average rating of “Hold” and an average target price of $86.57.

Principal Financial Group Price Performance

PFG stock opened at $72.94 on Wednesday. Principal Financial Group has a one year low of $72.21 and a one year high of $91.98. The firm has a 50-day moving average of $84.12 and a two-hundred day moving average of $83.67. The firm has a market capitalization of $16.45 billion, a PE ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.11%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Curio Wealth LLC acquired a new position in Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group in the fourth quarter worth about $33,000. Navigoe LLC acquired a new position in shares of Principal Financial Group during the fourth quarter worth approximately $37,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $37,000. Finally, Covestor Ltd grew its stake in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock worth $42,000 after acquiring an additional 319 shares during the last quarter. 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.