Principal Financial Group, Inc. (NASDAQ:PFG) Receives $105.83 Consensus Target Price from Analysts

Principal Financial Group, Inc. (NASDAQ:PFG) has been assigned an average rating of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $106.6667.

A number of research analysts have recently commented on PFG shares. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Piper Sandler increased their price target on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Barclays lifted their price objective on Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $102.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Finally, Morgan Stanley increased their price objective on Principal Financial Group from $107.00 to $112.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $110.75 on Friday. Principal Financial Group has a one year low of $77.90 and a one year high of $116.61. The business has a fifty day moving average price of $111.67 and a 200-day moving average price of $101.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $23.71 billion, a P/E ratio of 15.73, a PEG ratio of 1.01 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the firm posted $2.16 EPS. As a group, equities research analysts forecast that Principal Financial Group will post 9.57 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s payout ratio is presently 46.59%.

Institutional Trading of Principal Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Ancora Advisors LLC bought a new position in shares of Principal Financial Group during the second quarter valued at approximately $27,000. DV Equities LLC bought a new position in shares of Principal Financial Group during the fourth quarter valued at $25,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new stake in Principal Financial Group in the 1st quarter worth approximately $27,000. Finally, MBM Wealth Consultants LLC bought a new stake in Principal Financial Group in the 1st quarter worth approximately $28,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

About Principal Financial Group

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.