Principal Financial Group, Inc. (NYSE:PFG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Principal Financial Group, Inc. (NYSE:PFG) have received a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $88.90.

PFG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Evercore ISI boosted their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Piper Sandler set a $94.00 price objective on shares of Principal Financial Group and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Barclays lifted their target price on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Finally, UBS Group increased their price target on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th.

Principal Financial Group Stock Up 1.5%

Shares of NYSE PFG opened at $82.19 on Friday. Principal Financial Group has a 12-month low of $68.39 and a 12-month high of $90.31. The company has a market cap of $18.31 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.76 and a beta of 1.02. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $81.90 and a 200 day moving average price of $79.86.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Monday, October 27th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the previous year, the firm earned $2.05 EPS. Research analysts anticipate that Principal Financial Group will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.8%. Principal Financial Group’s dividend payout ratio is 46.00%.

Insiders Place Their Bets

In related news, EVP Wee Yee Cheong sold 1,887 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the sale, the executive vice president directly owned 81,421 shares of the company’s stock, valued at $6,924,041.84. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.08% of the stock is currently owned by corporate insiders.

Institutional Trading of Principal Financial Group

Several large investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new stake in Principal Financial Group during the 2nd quarter valued at $3,269,000. Public Employees Retirement System of Ohio boosted its position in shares of Principal Financial Group by 3.5% in the second quarter. Public Employees Retirement System of Ohio now owns 72,348 shares of the company’s stock worth $5,747,000 after buying an additional 2,469 shares during the period. LVW Advisors LLC acquired a new stake in shares of Principal Financial Group in the second quarter worth $297,000. AE Wealth Management LLC grew its holdings in shares of Principal Financial Group by 14.3% during the second quarter. AE Wealth Management LLC now owns 156,900 shares of the company’s stock valued at $12,462,000 after buying an additional 19,644 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Principal Financial Group by 12.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 397,103 shares of the company’s stock valued at $33,504,000 after buying an additional 43,257 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.