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

Shares of Principal Financial Group, Inc. (NASDAQ:PFG) have been assigned an average recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $93.4444.

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Principal Financial Group in a research note on Thursday, March 26th. Morgan Stanley lifted their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Piper Sandler lifted their price objective on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Bank of America reduced their price objective on Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company reduced their price objective on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th.

Insider Activity at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 9,300 shares of Principal Financial Group stock in a transaction that occurred on 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 transaction, the chief executive officer owned 144,168 shares in the company, valued at approximately $13,713,260.16. The trade was a 6.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 24,665 shares of company stock valued at $2,324,710. 1.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Principal Financial Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Aptus Capital Advisors LLC raised its holdings in shares of Principal Financial Group by 3.5% during the third quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock valued at $286,000 after acquiring an additional 118 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Principal Financial Group by 7.6% during the fourth quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock valued at $149,000 after acquiring an additional 119 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Principal Financial Group by 1.4% during the fourth quarter. Fifth Third Bancorp now owns 9,130 shares of the company’s stock valued at $805,000 after acquiring an additional 127 shares during the last quarter. Mutual Advisors LLC raised its holdings in shares of Principal Financial Group by 4.6% during the fourth quarter. Mutual Advisors LLC now owns 2,908 shares of the company’s stock valued at $257,000 after acquiring an additional 129 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Principal Financial Group by 22.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 713 shares of the company’s stock valued at $59,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NASDAQ:PFG opened at $96.17 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. Principal Financial Group has a 1 year low of $69.80 and a 1 year high of $97.88. The stock’s 50 day simple moving average is $91.26 and its two-hundred day simple moving average is $88.23. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.86 and a beta of 0.87.

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

Principal Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, March 11th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. Principal Financial Group’s payout ratio is 60.72%.

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.