Brokerages Set Principal Financial Group, Inc. (NYSE:PFG) Price Target at $85.38

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has earned an average rating of "Hold" from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $85.54.

A number of analysts recently commented on PFG shares. Wells Fargo & Company dropped their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 14th. Piper Sandler raised their target price on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Barclays increased their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th.

Institutional Investors Weigh In On Principal Financial Group

Institutional investors have recently added to or reduced their stakes in the business. AMF Tjanstepension AB lifted its holdings in Principal Financial Group by 28.7% in the third quarter. AMF Tjanstepension AB now owns 290,723 shares of the company's stock valued at $24,997,000 after acquiring an additional 64,915 shares during the period. CWM LLC grew its position in Principal Financial Group by 10.0% during the third quarter. CWM LLC now owns 12,410 shares of the company's stock valued at $1,066,000 after buying an additional 1,125 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Principal Financial Group by 2,192.3% in the third quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the company's stock worth $256,000 after acquiring an additional 2,850 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Principal Financial Group by 4.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 24,891 shares of the company's stock valued at $2,138,000 after acquiring an additional 1,110 shares during the period. Finally, Proquility Private Wealth Partners LLC increased its stake in shares of Principal Financial Group by 6.3% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 12,277 shares of the company's stock valued at $1,055,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded down $1.30 during mid-day trading on Wednesday, reaching $85.65. 1,669,765 shares of the company's stock were exchanged, compared to its average volume of 1,392,383. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.97. The firm has a 50-day moving average price of $80.13 and a two-hundred day moving average price of $82.15.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's payout ratio is 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.