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

Principal Financial Group, Inc. (NYSE:PFG) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $85.38.

PFG has been the topic of several research analyst reports. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Finally, Morgan Stanley reissued 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.

Principal Financial Group Stock Up 1.3 %

Shares of NYSE:PFG opened at $85.45 on Wednesday. The stock’s 50-day moving average is $80.02 and its 200 day moving average is $82.04. The company has a market cap of $19.54 billion, a PE ratio of 12.79, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group has a 1 year low of $72.21 and a 1 year high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.51%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio is presently 43.71%.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently modified their holdings of PFG. Amundi grew its position in Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock valued at $106,511,000 after purchasing an additional 264,383 shares during the last quarter. KBC Group NV grew its holdings in shares of Principal Financial Group by 398.4% during the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after buying an additional 232,915 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Principal Financial Group by 85.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after acquiring an additional 215,045 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $15,821,000. Finally, Bank of Montreal Can raised its holdings in Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after acquiring an additional 146,473 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

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.