Principal Financial Group, Inc. (NYSE:PFG) Receives Average Rating of “Hold” from Analysts

Shares of Principal Financial Group, Inc. (NYSE:PFG) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. 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 issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $85.92.

Several research firms have weighed in on PFG. Barclays boosted their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Piper Sandler increased their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Curio Wealth LLC acquired a new stake in Principal Financial Group during the fourth quarter worth about $29,000. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the 3rd quarter worth approximately $33,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group during the fourth quarter worth $33,000. Navigoe LLC purchased a new stake in Principal Financial Group during the 4th quarter worth about $37,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Principal Financial Group during the fourth quarter worth approximately $37,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 1.2 %

NYSE:PFG opened at $85.61 on Friday. The company’s 50 day moving average is $82.56 and its two-hundred day moving average is $83.24. The company has a market cap of $19.31 billion, a PE ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.50%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio is 44.91%.

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.