Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group (NYSE:PFG - Free Report) had its target price lifted by Keefe, Bruyette & Woods from $90.00 to $92.00 in a report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other equities research analysts have also issued reports on PFG. Morgan Stanley reiterated an "underweight" rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Barclays lifted their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, February 7th. Piper Sandler lifted their price target on Principal Financial Group from $90.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price target on Principal Financial Group from $75.00 to $69.00 and set an "underweight" rating for the company in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $85.54.

Principal Financial Group Stock Down 1.5 %

NYSE PFG traded down $1.30 during trading on Wednesday, reaching $85.65. 1,669,765 shares of the company's stock were exchanged, compared to its average volume of 1,392,383. Principal Financial Group has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The firm has a market capitalization of $19.59 billion, a PE ratio of 12.82, a P/E/G ratio of 0.79 and a beta of 1.22. 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's fifty day simple moving average is $80.13 and its 200-day simple moving average is $82.15.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a $0.75 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group's payout ratio is currently 44.91%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Metis Global Partners LLC increased its position in Principal Financial Group by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company's stock worth $965,000 after buying an additional 533 shares during the period. Sanctuary Advisors LLC increased its position in Principal Financial Group by 66.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company's stock worth $2,137,000 after buying an additional 9,933 shares during the period. Legacy Financial Group LLC bought a new position in Principal Financial Group in the 4th quarter worth approximately $771,000. Columbus Macro LLC increased its position in Principal Financial Group by 46.7% in the 4th quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock worth $1,986,000 after buying an additional 8,169 shares during the period. Finally, Empowered Funds LLC increased its position in Principal Financial Group by 358.7% in the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company's stock worth $1,403,000 after buying an additional 12,768 shares during the period. 75.08% of the stock is owned by institutional investors.

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.