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

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been given a consensus rating of “Hold” by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $85.92.

Several analysts have issued reports on the stock. Barclays increased their target price 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 boosted their price objective on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler increased their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Royal Bank of Canada lifted their price objective on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th.

Principal Financial Group Trading Up 0.6 %

NYSE:PFG opened at $87.28 on Friday. Principal Financial Group has a 12 month low of $71.39 and a 12 month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $86.38 and its 200 day moving average is $82.45. The stock has a market capitalization of $19.96 billion, a PE ratio of -96.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 EPS. Sell-side analysts expect that Principal Financial Group will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 3.35%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s payout ratio is -324.44%.

Institutional Trading of Principal Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its holdings in Principal Financial Group by 403.6% in the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after purchasing an additional 284,067 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Principal Financial Group in the second quarter worth about $19,698,000. Swedbank AB bought a new stake in Principal Financial Group during the 1st quarter worth approximately $13,996,000. Bank of Montreal Can raised its position in shares of Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock valued at $43,367,000 after purchasing an additional 146,473 shares during the period. Finally, Mizuho Securities USA LLC raised its holdings in Principal Financial Group by 818.1% during the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares during the period. 75.08% of the stock is currently owned by 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.