Principal Financial Group, Inc. (NYSE:PFG) Receives Consensus Recommendation of “Reduce” from Analysts

Principal Financial Group, Inc. (NYSE:PFG) has been given an average recommendation of “Reduce” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $84.75.

Several research firms recently weighed in on PFG. Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Wells Fargo & Company reissued an “underweight” rating and issued a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Piper Sandler raised Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada lifted their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th.

Principal Financial Group Stock Performance

PFG stock opened at $77.40 on Tuesday. The company has a 50 day moving average price of $84.74 and a 200 day moving average price of $82.29. Principal Financial Group has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $17.70 billion, a PE ratio of -86.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.20.

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). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm earned $1.72 earnings per share. Analysts forecast that Principal Financial Group will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 2nd. Principal Financial Group’s dividend payout ratio is presently -324.44%.

Hedge Funds Weigh In On Principal Financial Group

A number of institutional investors have recently bought and sold shares of PFG. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $33,000. Truvestments Capital LLC bought a new stake in Principal Financial Group in the 3rd quarter valued at $43,000. Prospera Private Wealth LLC acquired a new position in Principal Financial Group in the 3rd quarter valued at $45,000. Innealta Capital LLC bought a new position in Principal Financial Group during the 2nd quarter worth $43,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Principal Financial Group during the third quarter worth $50,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

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.