Analysts Set Principal Financial Group, Inc. (NYSE:PFG) Price Target at $84.25

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been assigned an average recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $84.25.

Several equities research analysts have commented on PFG shares. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Barclays boosted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Bank of America cut their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th.

Principal Financial Group Trading Up 0.6 %

NYSE:PFG opened at $81.66 on Friday. Principal Financial Group has a 12 month low of $72.21 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 $81.35 and its 200 day moving average is $82.20. The stock has a market capitalization of $18.68 billion, a PE ratio of -90.73, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last issued 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). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Sell-side analysts expect that Principal Financial Group will post 7.01 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.73 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.58%. Principal Financial Group’s payout ratio is presently -324.44%.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors have recently made changes to their positions in the stock. Metis Global Partners LLC increased its position in shares of Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after purchasing an additional 533 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Principal Financial Group by 66.2% in the third quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after buying an additional 9,933 shares in the last quarter. Intech Investment Management LLC grew its position in Principal Financial Group by 27.1% during the second quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock valued at $23,422,000 after acquiring an additional 63,747 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after acquiring an additional 12,768 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $2,441,000. Institutional investors own 75.08% of the company’s stock.

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.