Principal Financial Group, Inc. (NYSE:PFG) Given Consensus Rating of “Hold” by Brokerages

Shares of Principal Financial Group, Inc. (NYSE:PFG) have received an average rating of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $85.50.

A number of research analysts have issued reports on the stock. Raymond James upgraded shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a report on Tuesday, July 9th. Bank of America upped their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Morgan Stanley reduced 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 report on Monday, August 19th. Royal Bank of Canada upped their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Barclays assumed coverage on shares of Principal Financial Group in a report on Wednesday, September 4th. They issued an “underweight” rating and a $74.00 target price on the stock.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $81.32 on Friday. Principal Financial Group has a 52 week low of $66.21 and a 52 week high of $88.26. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $80.01 and its 200 day simple moving average is $80.86. The firm has a market capitalization of $19.06 billion, a PE ratio of 15.52, a P/E/G ratio of 0.83 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. On average, equities research analysts predict that Principal Financial Group will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Thursday, September 5th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio is 54.96%.

Institutional Trading of Principal Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake in shares of Principal Financial Group by 2.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after buying an additional 135 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after buying an additional 138 shares during the last quarter. Graypoint LLC boosted its stake in shares of Principal Financial Group by 5.6% during the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after buying an additional 140 shares during the last quarter. City State Bank boosted its stake in shares of Principal Financial Group by 1.7% during the 1st quarter. City State Bank now owns 8,216 shares of the company’s stock valued at $709,000 after buying an additional 141 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Principal Financial Group by 18.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock valued at $76,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds 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.