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

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has earned a consensus rating of "Hold" from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $85.92.

Several analysts recently commented on PFG shares. Morgan Stanley reaffirmed an "underweight" rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. 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 report on Wednesday, February 19th. BMO Capital Markets started coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They set a "market perform" rating and a $93.00 target price for the company. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, February 7th.

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Principal Financial Group Stock Performance

Shares of PFG traded down $1.03 during midday trading on Friday, reaching $85.61. The stock had a trading volume of 1,662,573 shares, compared to its average volume of 1,559,927. The firm has a 50 day simple moving average of $82.56 and a 200-day simple moving average of $83.24. Principal Financial Group has a one year low of $72.21 and a one year high of $91.97. The firm has a market cap of $19.31 billion, a PE ratio of 12.82, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 3.50%. Principal Financial Group's payout ratio is presently 44.91%.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in Principal Financial Group by 2.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company's stock worth $404,000 after purchasing an additional 132 shares in the last quarter. Leavell Investment Management Inc. increased its position in Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock worth $208,000 after purchasing an additional 138 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in Principal Financial Group by 2.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company's stock worth $546,000 after purchasing an additional 142 shares in the last quarter. Empirical Finance LLC increased its position in Principal Financial Group by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company's stock worth $676,000 after purchasing an additional 142 shares in the last quarter. Finally, Palisade Asset Management LLC increased its position in Principal Financial Group by 2.1% during the 3rd quarter. Palisade Asset Management LLC now owns 6,946 shares of the company's stock worth $597,000 after purchasing an additional 146 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.