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

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been given an average rating of “Hold” by the thirteen brokerages that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $85.92.

Several research firms have recently commented on PFG. Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. BMO Capital Markets assumed coverage on Principal Financial Group in a report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th.

Principal Financial Group Trading Down 1.2 %

NYSE PFG opened at $85.61 on Friday. The firm’s fifty day moving average is $82.56 and its two-hundred day moving average is $83.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market cap of $19.31 billion, a PE ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.50%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is 44.91%.

Institutional Investors Weigh In On Principal Financial Group

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Principal Financial Group in the fourth quarter valued at about $217,021,000. Deutsche Bank AG boosted its stake in Principal Financial Group by 73.5% during the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company’s stock valued at $114,726,000 after buying an additional 627,865 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $28,448,000. Northern Trust Corp grew its position in Principal Financial Group by 9.8% in the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock worth $283,546,000 after buying an additional 326,604 shares during the last quarter. Finally, Amundi grew its holdings in shares of Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after acquiring an additional 264,383 shares during the last quarter. 75.08% of the stock is currently 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.