Shares of Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $91.59 and last traded at $91.27, with a volume of 86250 shares changing hands. The stock had previously closed at $91.15.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on Principal Financial Group from $85.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods decreased their price target on Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised Principal Financial Group from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Finally, Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group has an average rating of "Hold" and a consensus target price of $85.42.
View Our Latest Stock Report on Principal Financial Group
Principal Financial Group Stock Performance
The firm has a market capitalization of $21.39 billion, a PE ratio of 17.50, a P/E/G ratio of 0.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The company's fifty day simple moving average is $82.10 and its 200 day simple moving average is $81.50.
Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.
Principal Financial Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were issued a $0.72 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Thursday, September 5th. Principal Financial Group's dividend payout ratio (DPR) is presently 54.96%.
Institutional Trading of Principal Financial Group
A number of institutional investors have recently added to or reduced their stakes in PFG. EdgeRock Capital LLC purchased a new position in Principal Financial Group during the 2nd quarter valued at about $26,000. Riverview Trust Co bought a new stake in Principal Financial Group during the first quarter valued at $34,000. Newbridge Financial Services Group Inc. bought a new position in Principal Financial Group in the 4th quarter worth about $33,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC boosted its position in shares of Principal Financial Group by 319.3% during the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company's stock valued at $43,000 after acquiring an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.
About Principal Financial Group
(
Get Free Report)
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.
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