Principal Financial Group (NYSE:PFG) Price Target Raised to $93.00 at Piper Sandler

Principal Financial Group (NYSE:PFG) had its price target boosted by Piper Sandler from $90.00 to $93.00 in a research note released on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 target price on shares of Principal Financial Group in a research note on Thursday, January 16th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group has an average rating of “Hold” and a consensus price target of $85.38.

Principal Financial Group Stock Up 2.5 %

PFG stock opened at $84.38 on Monday. The company’s 50 day moving average price is $80.04 and its 200 day moving average price is $82.04. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.79 and a beta of 1.22. 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 quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a $0.75 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.56%. Principal Financial Group’s payout ratio is presently 43.71%.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors have recently made changes to their positions in PFG. Curio Wealth LLC acquired a new position in Principal Financial Group during the fourth quarter worth about $29,000. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $33,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Truvestments Capital LLC purchased a new position in Principal Financial Group in the 3rd quarter valued at approximately $43,000. Finally, Prospera Private Wealth LLC acquired a new position in Principal Financial Group during the third quarter worth $45,000. 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.