Principal Financial Group, Inc. (NYSE:PFG) Receives $85.92 Consensus Target Price from Analysts

Shares of Principal Financial Group, Inc. (NYSE:PFG) have earned an average recommendation of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $85.92.

Several equities analysts have recently weighed in on PFG shares. Wells Fargo & Company lifted their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Piper Sandler boosted their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On Principal Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $4,261,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $7,891,000. Brooklyn FI LLC bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $307,000. Ameriflex Group Inc. bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $37,000. Finally, CTC Alternative Strategies Ltd. bought a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $209,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

NYSE PFG opened at $82.78 on Friday. The firm has a market capitalization of $18.67 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The business’s 50-day simple moving average is $83.06 and its 200-day simple moving average is $83.36.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.62%. Principal Financial Group’s payout ratio is currently 44.91%.

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.