Principal Financial Group (NYSE:PFG - Free Report) had its price target upped by Piper Sandler from $93.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.
PFG has been the subject of a number of other research reports. Wells Fargo & Company raised their price objective on Principal Financial Group from $69.00 to $74.00 and gave the company an "underweight" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods upped their price target on shares of 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. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective for the company. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $86.57.
Check Out Our Latest Analysis on Principal Financial Group
Principal Financial Group Stock Down 2.5 %
PFG traded down $1.83 during trading on Wednesday, reaching $71.11. The stock had a trading volume of 710,799 shares, compared to its average volume of 1,226,141. Principal Financial Group has a one year low of $68.76 and a one year high of $91.98. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average is $84.12 and its two-hundred day moving average is $83.67. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.76 and a beta of 1.01.
Principal Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.22%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. Principal Financial Group's payout ratio is 44.91%.
Hedge Funds Weigh In On Principal Financial Group
A number of institutional investors have recently modified their holdings of PFG. Geode Capital Management LLC increased its holdings in Principal Financial Group by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock worth $422,074,000 after purchasing an additional 52,410 shares during the period. Northern Trust Corp grew its stake in Principal Financial Group by 9.8% in the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock valued at $283,546,000 after purchasing an additional 326,604 shares during the last quarter. Norges Bank bought a new position in Principal Financial Group in the fourth quarter worth about $217,021,000. JPMorgan Chase & Co. lifted its position in shares of Principal Financial Group by 5.1% during the third quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after buying an additional 118,722 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Principal Financial Group by 12.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock worth $145,318,000 after purchasing an additional 209,885 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.
Principal Financial Group Company Profile
(
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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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