Principal Financial Group (NYSE:PFG) Price Target Lowered to $90.00 at Keefe, Bruyette & Woods

Principal Financial Group (NYSE:PFG) had its target price cut by Keefe, Bruyette & Woods from $93.00 to $90.00 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the stock.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Piper Sandler raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a report on Wednesday, December 18th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Barclays boosted their price target 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. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.75.

Principal Financial Group Trading Down 2.5 %

Shares of Principal Financial Group stock opened at $76.34 on Friday. Principal Financial Group has a 12-month low of $72.21 and a 12-month high of $91.97. The stock has a market cap of $17.46 billion, a P/E ratio of -84.82, a P/E/G ratio of 0.92 and a beta of 1.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $81.79 and its 200-day moving average is $82.17.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company posted $1.72 EPS. Equities research analysts predict that Principal Financial Group will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $0.73 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.82%. Principal Financial Group’s dividend payout ratio (DPR) is presently -324.44%.

Institutional Trading of Principal Financial Group

Several large investors have recently modified their holdings of PFG. Peterson Financial Group Inc. purchased a new position in Principal Financial Group during the third quarter valued at $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group in the third quarter valued at about $43,000. Sugarloaf Wealth Management LLC lifted its position in shares of Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Principal Financial Group in the third quarter valued at about $45,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Principal Financial Group in the third quarter valued at about $50,000. Institutional investors 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.