Principal Financial Group (NYSE:PFG) Reaches New 52-Week Low - What's Next?

Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) shares reached a new 52-week low on Monday . The company traded as low as $68.70 and last traded at $69.70, with a volume of 95580 shares traded. The stock had previously closed at $72.94.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of Principal Financial Group from $74.00 to $68.00 and set an "underweight" rating on the stock in a research report on Thursday. Morgan Stanley lowered their target price on shares of Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a report on Thursday. JPMorgan Chase & Co. upgraded Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price target for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price objective on the stock. Finally, Keefe, Bruyette & Woods upped their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and an average price target of $84.69.

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Principal Financial Group Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market cap of $16.38 billion, a P/E ratio of 10.87, a PEG ratio of 0.76 and a beta of 1.01. The stock has a 50-day simple moving average of $82.79 and a 200-day simple moving average of $83.08.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 12th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.13%. Principal Financial Group's payout ratio is 44.91%.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFG. Curio Wealth LLC bought a new position in shares of Principal Financial Group in the 4th quarter valued at $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group in the 4th quarter worth about $33,000. Navigoe LLC bought a new position in Principal Financial Group in the fourth quarter valued at about $37,000. Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group during the fourth quarter valued at about $37,000. Finally, Covestor Ltd grew its holdings in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after purchasing an additional 319 shares during the last quarter. Institutional investors 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.