Principal Financial Group, Inc. (NYSE:PFG) Given Consensus Recommendation of “Hold” by Analysts

Principal Financial Group, Inc. (NYSE:PFG) has been assigned an average rating of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $85.50.

Several analysts have issued reports on PFG shares. Morgan Stanley cut their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, July 9th. Barclays started coverage on Principal Financial Group in a research report on Wednesday, September 4th. They set an “underweight” rating and a $74.00 price objective for the company. Wells Fargo & Company dropped their target price on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, Jefferies Financial Group raised their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors have recently bought and sold shares of PFG. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Principal Financial Group during the 2nd quarter worth about $8,237,000. Sanctuary Advisors LLC acquired a new stake in Principal Financial Group in the 2nd quarter worth approximately $1,187,000. Cetera Investment Advisers boosted its position in Principal Financial Group by 6.9% during the second quarter. Cetera Investment Advisers now owns 57,293 shares of the company’s stock worth $4,495,000 after purchasing an additional 3,714 shares during the period. Heartland Bank & Trust Co grew its holdings in Principal Financial Group by 4.4% during the second quarter. Heartland Bank & Trust Co now owns 5,496 shares of the company’s stock valued at $431,000 after purchasing an additional 234 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $91,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Down 0.0 %

NYSE:PFG opened at $85.61 on Friday. The stock has a fifty day simple moving average of $80.23 and a 200 day simple moving average of $80.99. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19. Principal Financial Group has a 1-year low of $66.21 and a 1-year high of $88.26. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.24). The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same quarter in the previous year, the business earned $1.53 earnings per share. Sell-side analysts forecast that Principal Financial Group will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is presently 54.96%.

About Principal Financial Group

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.