Principal Financial Group (NYSE:PFG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Principal Financial Group (NYSE:PFG - Free Report) had its target price hoisted by Wells Fargo & Company from $69.00 to $74.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other analysts have also commented on PFG. JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Piper Sandler increased their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. 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 report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods increased 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 report on Wednesday, February 12th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of "Hold" and a consensus target price of $85.92.

Principal Financial Group Trading Down 2.5 %

Shares of NYSE PFG traded down $2.18 during mid-day trading on Wednesday, reaching $84.38. The company had a trading volume of 1,852,176 shares, compared to its average volume of 1,491,806. Principal Financial Group has a 52 week low of $72.21 and a 52 week high of $91.97. The business's 50-day moving average is $80.58 and its 200-day moving average is $82.34. The stock has a market cap of $19.30 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a yield of 3.56%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.73. Principal Financial Group's dividend payout ratio (DPR) is currently 43.71%.

Institutional Investors Weigh In On Principal Financial Group

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Principal Financial Group in the 4th quarter valued at $217,021,000. Deutsche Bank AG lifted its holdings in Principal Financial Group by 73.5% in the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after purchasing an additional 627,865 shares in the last quarter. Woodline Partners LP purchased a new position in Principal Financial Group in the 4th quarter valued at $28,448,000. Northern Trust Corp lifted its holdings in Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock valued at $283,546,000 after purchasing an additional 326,604 shares in the last quarter. Finally, Amundi lifted its holdings in Principal Financial Group by 24.1% in the 4th quarter. Amundi now owns 1,359,779 shares of the company's stock valued at $106,511,000 after purchasing an additional 264,383 shares in the last quarter. Institutional investors and hedge funds 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.