Principal Financial Group (NYSE:PFG) Given New $78.00 Price Target at Jefferies Financial Group

Principal Financial Group (NYSE:PFG) had its price objective lifted by Jefferies Financial Group from $74.00 to $78.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also recently issued reports on PFG. Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $91.00 to $85.00 and set an equal weight rating for the company in a research note on Monday, April 29th. Morgan Stanley increased their price target on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Evercore ISI increased their price target on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an in-line rating in a research report on Thursday, April 11th. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a neutral rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a market perform rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $81.50.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $78.45 on Friday. Principal Financial Group has a 52-week low of $66.21 and a 52-week high of $86.79. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The company has a fifty day moving average of $80.93 and a 200-day moving average of $80.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the company posted $1.48 EPS. Equities research analysts expect that Principal Financial Group will post 7.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a yield of 3.62%. Principal Financial Group’s dividend payout ratio is 54.20%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PFG. DekaBank Deutsche Girozentrale increased its stake in shares of Principal Financial Group by 5.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,615 shares of the company’s stock worth $6,497,000 after acquiring an additional 4,065 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of Principal Financial Group by 242.0% in the 1st quarter. Cetera Advisors LLC now owns 32,533 shares of the company’s stock worth $2,808,000 after acquiring an additional 23,020 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after acquiring an additional 27,827 shares in the last quarter. PGGM Investments increased its stake in shares of Principal Financial Group by 2.1% in the 1st quarter. PGGM Investments now owns 48,179 shares of the company’s stock worth $4,158,000 after acquiring an additional 1,014 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Principal Financial Group in the 1st quarter worth about $13,996,000. 75.08% of the stock is currently owned by institutional investors.

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.