Principal Financial Group, Inc. (NYSE:PFG) Receives $85.38 Average Target Price from Brokerages

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $85.54.

A number of brokerages have issued reports on PFG. Piper Sandler increased their price target on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company cut their price target on Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Curio Wealth LLC bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $29,000. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the 3rd quarter valued at about $33,000. BankPlus Trust Department bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $33,000. Navigoe LLC bought a new position in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Finally, Covestor Ltd lifted its holdings in shares of Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after acquiring an additional 319 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $86.60 on Wednesday. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97. The stock’s fifty day moving average is $80.19 and its 200 day moving average is $82.20. The stock has a market cap of $19.81 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be issued a $0.75 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.46%. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.71%.

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.