Brokerages Set Principal Financial Group, Inc. (NYSE:PFG) Target Price at $85.58

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has been given a consensus recommendation of "Hold" by the twelve brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $85.58.

PFG has been the subject of a number of research analyst reports. Raymond James upgraded Principal Financial Group from a "market perform" rating to a "strong-buy" rating and set a $99.00 price target for the company in a report on Tuesday, July 9th. Morgan Stanley dropped their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Barclays upped their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Royal Bank of Canada lifted their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a "sector perform" rating in a report on Monday, July 29th. Finally, Piper Sandler boosted their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd.

Hedge Funds Weigh In On Principal Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of Principal Financial Group by 403.6% during the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company's stock worth $27,800,000 after acquiring an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Principal Financial Group in the second quarter valued at approximately $19,698,000. BNP Paribas Financial Markets increased its stake in Principal Financial Group by 165.2% in the first quarter. BNP Paribas Financial Markets now owns 337,877 shares of the company's stock valued at $29,162,000 after purchasing an additional 210,476 shares during the last quarter. Intech Investment Management LLC raised its holdings in Principal Financial Group by 586.1% during the first quarter. Intech Investment Management LLC now owns 234,815 shares of the company's stock worth $20,267,000 after purchasing an additional 200,588 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $13,996,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Trading Down 0.8 %

PFG stock traded down $0.62 during trading on Monday, reaching $81.56. 1,104,310 shares of the stock were exchanged, compared to its average volume of 1,132,528. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $18.66 billion, a price-to-earnings ratio of -90.62, a P/E/G ratio of 0.95 and a beta of 1.20. The business has a 50 day moving average price of $84.58 and a 200-day moving average price of $81.89. Principal Financial Group has a 1 year low of $68.69 and a 1 year high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the firm posted $1.72 EPS. On average, research analysts predict that Principal Financial Group will post 7.12 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.58%. Principal Financial Group's dividend payout ratio is currently -320.00%.

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.