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

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) has been given a consensus rating of "Reduce" by the twelve brokerages that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $84.75.

PFG has been the topic of a number of recent research reports. Piper Sandler upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price objective on the stock in a report on Wednesday, December 18th. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Barclays raised their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Bank of America dropped their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $75.00 price objective (down from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th.

Principal Financial Group Trading Up 0.5 %

Shares of PFG traded up $0.40 during trading hours on Tuesday, hitting $77.80. The company had a trading volume of 271,245 shares, compared to its average volume of 1,156,403. The firm has a market cap of $17.79 billion, a P/E ratio of -86.44, a P/E/G ratio of 0.92 and a beta of 1.20. Principal Financial Group has a 52-week low of $72.21 and a 52-week high of $91.97. The stock's 50 day moving average price is $84.49 and its 200 day moving average price is $82.28. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

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). The company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the prior year, the firm earned $1.72 EPS. On average, research analysts predict that Principal Financial Group will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 3.75%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date was Monday, December 2nd. Principal Financial Group's dividend payout ratio is presently -324.44%.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently modified their holdings of PFG. Dimensional Fund Advisors LP lifted its stake in Principal Financial Group by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company's stock worth $306,393,000 after purchasing an additional 39,854 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Principal Financial Group by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company's stock valued at $149,301,000 after acquiring an additional 53,516 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Principal Financial Group by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock worth $120,577,000 after acquiring an additional 18,801 shares in the last quarter. Barclays PLC increased its stake in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company's stock worth $69,293,000 after acquiring an additional 88,179 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Principal Financial Group by 27.2% during the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock valued at $46,404,000 after purchasing an additional 115,569 shares during the period. 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.