Principal Financial Group, Inc. (NYSE:PFG) Given Consensus Recommendation of “Hold” by Brokerages

Principal Financial Group, Inc. (NYSE:PFG) has earned a consensus rating of “Hold” from the fourteen analysts that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $86.57.

Several equities analysts recently commented on PFG shares. Barclays increased their target price on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. 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. BMO Capital Markets started coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. Keefe, Bruyette & Woods increased their price target on shares of Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Institutional Trading of Principal Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Principal Financial Group by 3.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,071 shares of the company’s stock worth $2,560,000 after purchasing an additional 1,150 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Principal Financial Group in the 4th quarter valued at $4,261,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Principal Financial Group during the 4th quarter worth $7,891,000. Brooklyn FI LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter worth $307,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at about $37,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Up 1.2 %

NYSE PFG opened at $86.19 on Thursday. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.98. The firm has a 50 day moving average of $84.35 and a two-hundred day moving average of $83.76. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $19.44 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.48%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

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.