Principal Financial Group, Inc. (NYSE:PFG) Given Average Rating of "Hold" by Analysts

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has received a consensus rating of "Hold" from the twelve analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $85.92.

PFG has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 19th. Bank of America cut their price target on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Morgan Stanley decreased their price objective on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th.

Principal Financial Group Price Performance

Shares of NYSE:PFG traded down $0.19 during midday trading on Friday, hitting $87.09. 559,610 shares of the stock were exchanged, compared to its average volume of 1,139,113. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average price of $86.38 and a 200-day moving average price of $82.45. The stock has a market cap of $19.92 billion, a P/E ratio of 12.70, a PEG ratio of 1.02 and a beta of 1.20.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same period last year, the company earned $1.72 EPS. On average, research analysts forecast that Principal Financial Group will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group's dividend payout ratio is -320.00%.

Hedge Funds Weigh In On Principal Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of PFG. Tidal Investments LLC grew its stake in shares of Principal Financial Group by 54.2% during the first quarter. Tidal Investments LLC now owns 26,847 shares of the company's stock valued at $2,317,000 after acquiring an additional 9,432 shares in the last quarter. Swedbank AB acquired a new position in Principal Financial Group during the 1st quarter worth $13,996,000. PGGM Investments increased its position in shares of Principal Financial Group by 2.1% in the 1st quarter. PGGM Investments now owns 48,179 shares of the company's stock worth $4,158,000 after purchasing an additional 1,014 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company's stock valued at $4,624,000 after purchasing an additional 27,827 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Principal Financial Group by 242.0% during the first quarter. Cetera Advisors LLC now owns 32,533 shares of the company's stock worth $2,808,000 after purchasing an additional 23,020 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

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.