Principal Financial Group, Inc. (NYSE:PFG) Receives Consensus Recommendation of "Hold" from Brokerages

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has received a consensus rating of "Hold" from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $86.57.

Several research firms have commented on PFG. Keefe, Bruyette & Woods lifted 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. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 19th. BMO Capital Markets started coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target for the company. UBS Group lifted their price objective on Principal Financial Group from $87.00 to $93.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $91.00 target price on shares of Principal Financial Group in a report on Thursday, January 16th.

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Institutional Trading of Principal Financial Group

Several large investors have recently added to or reduced their stakes in PFG. Tompkins Financial Corp purchased a new stake in shares of Principal Financial Group in the 1st quarter worth about $55,000. GoalVest Advisory LLC raised its stake in Principal Financial Group by 17.6% in the first quarter. GoalVest Advisory LLC now owns 21,498 shares of the company's stock worth $1,814,000 after buying an additional 3,220 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Principal Financial Group by 11,781.7% in the first quarter. GAMMA Investing LLC now owns 478,715 shares of the company's stock worth $40,389,000 after buying an additional 474,686 shares during the period. Versant Capital Management Inc boosted its position in Principal Financial Group by 470.1% during the 1st quarter. Versant Capital Management Inc now owns 1,545 shares of the company's stock valued at $130,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Principal Financial Group during the 1st quarter worth approximately $279,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded down $1.29 during trading on Thursday, hitting $71.65. 2,718,666 shares of the stock traded hands, compared to its average volume of 1,233,999. The stock has a market cap of $16.16 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.76 and a beta of 1.01. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 52 week low of $68.76 and a 52 week high of $91.98. The firm's fifty day moving average is $83.90 and its 200-day moving average is $83.57.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio is currently 44.91%.

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.