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

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has received an average rating of "Hold" from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $84.25.

PFG has been the topic of several recent research reports. Barclays raised their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $91.00 target price on shares of Principal Financial Group in a research note on Thursday. Piper Sandler raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price target for the company in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price objective 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. Finally, Morgan Stanley reiterated an "underweight" rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th.

Principal Financial Group Price Performance

Shares of NYSE PFG traded up $0.52 during trading on Friday, reaching $81.66. The company had a trading volume of 1,219,440 shares, compared to its average volume of 982,518. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The business's 50 day moving average price is $81.35 and its 200-day moving average price is $82.16. The stock has a market cap of $18.68 billion, a PE ratio of -90.73, a PEG ratio of 0.75 and a beta of 1.22.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter last year, the firm earned $1.72 EPS. Analysts expect that Principal Financial Group will post 7.01 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.73 per share. The ex-dividend date was Monday, December 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.58%. Principal Financial Group's payout ratio is currently -324.44%.

Institutional Investors Weigh In On Principal Financial Group

Hedge funds have recently modified their holdings of the business. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group during the third quarter worth $33,000. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $43,000. Sugarloaf Wealth Management LLC raised its stake in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group in the third quarter valued at about $45,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Principal Financial Group during the third quarter worth about $50,000. Institutional investors and hedge funds own 75.08% of the company's stock.

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.