Principal Financial Group, Inc. (NASDAQ:PFG – Get Free Report) crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $112.31 and traded as low as $110.82. Principal Financial Group shares last traded at $110.91, with a volume of 1,160,296 shares.
Analysts Set New Price Targets
PFG has been the subject of a number of research reports. Piper Sandler lowered their target price on Principal Financial Group from $128.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Bank of America boosted their price target on Principal Financial Group from $94.00 to $104.00 and gave the company an “underperform” rating in a report on Tuesday, July 28th. Raymond James Financial reaffirmed an “outperform” rating and set a $121.00 price objective on shares of Principal Financial Group in a research report on Monday, August 17th. Weiss Ratings upgraded Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Finally, Barclays decreased their price objective on Principal Financial Group from $92.00 to $86.00 and set an “underweight” rating for the company in a report on Wednesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $107.75.
Get Our Latest Analysis on Principal Financial Group
Principal Financial Group Price Performance
The firm has a market cap of $23.56 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.27 and a beta of 0.87. The company’s fifty day moving average is $112.31 and its 200 day moving average is $104.06. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.37.
Principal Financial Group (NASDAQ:PFG – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.46 by ($0.24). Principal Financial Group had a net margin of 11.89% and a return on equity of 16.51%. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the firm posted $2.32 earnings per share. On average, equities research analysts predict that Principal Financial Group, Inc. will post 9.18 EPS for the current year.
Principal Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Wednesday, December 2nd will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.84. Principal Financial Group’s dividend payout ratio is 37.33%.
Institutional Trading of Principal Financial Group
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co raised its holdings in Principal Financial Group by 318.4% during the 3rd quarter. Diversified Trust Co now owns 9,631 shares of the company’s stock valued at $1,078,000 after acquiring an additional 7,329 shares during the period. Aberdeen Group plc boosted its holdings in shares of Principal Financial Group by 1,290.5% in the third quarter. Aberdeen Group plc now owns 2,308,326 shares of the company’s stock worth $258,440,000 after acquiring an additional 2,142,316 shares during the period. Allworth Financial LP boosted its holdings in shares of Principal Financial Group by 14.4% in the third quarter. Allworth Financial LP now owns 9,255 shares of the company’s stock worth $997,000 after acquiring an additional 1,163 shares during the period. Fisher Asset Management LLC grew its position in shares of Principal Financial Group by 21.9% in the third quarter. Fisher Asset Management LLC now owns 2,731 shares of the company’s stock valued at $306,000 after purchasing an additional 490 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in shares of Principal Financial Group by 16.1% in the third quarter. Maryland State Retirement & Pension System now owns 13,178 shares of the company’s stock valued at $1,475,000 after purchasing an additional 1,830 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.
About Principal Financial Group
Principal Financial Group, Inc is a financial services company headquartered in Des Moines, Iowa. Founded in 1879 as Bankers Life Association, it later adopted the Principal name and expanded beyond its original insurance business.
The company provides retirement and pension solutions, investment management, life and disability insurance, and employee benefits to businesses, individuals, and institutional clients. Its offerings include workplace retirement plans, group benefits, and investment products and services.
Principal serves customers in the United States and internationally, with operations spanning markets in Latin America and Asia.
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