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

Principal Financial Group, Inc. (NYSE:PFG) has earned a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $85.58.

A number of research analysts have recently issued reports on the stock. Bank of America cut their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Raymond James upgraded 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. Piper Sandler lifted their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada increased their price target on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th.

Principal Financial Group Price Performance

Shares of PFG stock opened at $82.18 on Monday. The stock’s fifty day simple moving average is $84.54 and its 200 day simple moving average is $81.87. Principal Financial Group has a one year low of $67.79 and a one year high of $91.97. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of -91.31, a P/E/G ratio of 0.95 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.29.

Principal Financial Group (NYSE:PFG) last issued its 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). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm posted $1.72 EPS. On average, analysts expect that Principal Financial Group will post 7.12 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.73 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.55%. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors have recently modified their holdings of the stock. Norden Group LLC bought a new position in Principal Financial Group during the first quarter worth about $823,000. First Trust Direct Indexing L.P. raised its position in shares of Principal Financial Group by 4.8% during the first quarter. First Trust Direct Indexing L.P. now owns 5,126 shares of the company’s stock worth $442,000 after purchasing an additional 236 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Principal Financial Group by 165.2% during the 1st quarter. BNP Paribas Financial Markets now owns 337,877 shares of the company’s stock valued at $29,162,000 after purchasing an additional 210,476 shares in the last quarter. Choreo LLC grew its position in shares of Principal Financial Group by 17.4% in the 1st quarter. Choreo LLC now owns 8,526 shares of the company’s stock valued at $736,000 after purchasing an additional 1,261 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Principal Financial Group during the 1st quarter worth approximately $125,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.