Principal Financial Group (NYSE:PFG) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Principal Financial Group (NYSE:PFG) from a neutral rating to an overweight rating in a report published on Wednesday morning, Marketbeat.com reports. Piper Sandler currently has $90.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Barclays lifted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Morgan Stanley reissued an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Wells Fargo & Company reissued an “underweight” rating and set a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a research report on Wednesday, December 11th. Finally, Bank of America dropped their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.75.

Principal Financial Group Trading Up 2.8 %

PFG opened at $77.30 on Wednesday. The business’s 50 day moving average price is $84.74 and its 200 day moving average price is $82.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $17.68 billion, a PE ratio of -85.89, a P/E/G ratio of 0.92 and a beta of 1.20. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.72 EPS. As a group, equities research analysts expect that Principal Financial Group will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 3.78%. The ex-dividend date was Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is -324.44%.

Institutional Trading of Principal Financial Group

Institutional investors have recently bought and sold shares of the business. Metis Global Partners LLC lifted its stake in Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after purchasing an additional 533 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Principal Financial Group by 66.2% during the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after purchasing an additional 9,933 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Principal Financial Group by 27.1% during the 2nd quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock worth $23,422,000 after buying an additional 63,747 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Principal Financial Group by 358.7% in the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after buying an additional 12,768 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Principal Financial Group in the 3rd quarter valued at $2,441,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

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.