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

Principal Financial Group, Inc. (NASDAQ:PFG) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $94.1111.

PFG has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, December 23rd. Weiss Ratings upgraded shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Morgan Stanley raised their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Wednesday, February 25th. Finally, Barclays reaffirmed an “underweight” rating and set a $85.00 price target on shares of Principal Financial Group in a research report on Thursday, January 8th.

Principal Financial Group Trading Up 1.7%

Shares of NASDAQ PFG opened at $86.55 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $18.77 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87. Principal Financial Group has a 1-year low of $68.39 and a 1-year high of $97.88. The business has a fifty day moving average price of $91.79 and a 200 day moving average price of $87.02.

Principal Financial Group (NASDAQ:PFG) last posted its earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The company had revenue of $4.58 billion for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Principal Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, March 11th. Principal Financial Group’s payout ratio is 60.72%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the completion of the sale, the chief executive officer directly owned 144,168 shares in the company, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 24,965 shares of company stock worth $2,352,460. Corporate insiders own 1.08% of the company’s stock.

Institutional Investors Weigh In On Principal Financial Group

A number of large investors have recently modified their holdings of the business. Capital Management Corp VA lifted its stake in shares of Principal Financial Group by 19.2% during the third quarter. Capital Management Corp VA now owns 172,736 shares of the company’s stock worth $14,322,000 after buying an additional 27,857 shares during the period. Nordea Investment Management AB increased its position in shares of Principal Financial Group by 160.3% in the 3rd quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock valued at $3,978,000 after acquiring an additional 30,118 shares during the period. Mediolanum International Funds Ltd raised its stake in Principal Financial Group by 41.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock worth $10,504,000 after acquiring an additional 37,357 shares during the last quarter. Rakuten Investment Management Inc. purchased a new position in Principal Financial Group in the 3rd quarter worth $18,526,000. Finally, Capital Fund Management S.A. acquired a new stake in Principal Financial Group during the 2nd quarter worth about $1,486,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.