Principal Financial Group (NYSE:PFG) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Principal Financial Group (NYSE:PFG - Free Report) from a neutral rating to an overweight rating in a research report report published on Tuesday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $92.00 price objective on the stock, down from their previous price objective of $95.00.

PFG has been the subject of a number of other reports. Wells Fargo & Company restated an "underweight" rating and issued a $75.00 target price (down from $84.00) on shares of Principal Financial Group in a research note on Wednesday, December 11th. Royal Bank of Canada upped their price objective on Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 19th. Barclays lifted their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Morgan Stanley reaffirmed an "underweight" rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Bank of America cut their price target on 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. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Principal Financial Group currently has an average rating of "Hold" and a consensus price target of $84.42.

Principal Financial Group Price Performance

Principal Financial Group stock traded up $0.48 during trading hours on Tuesday, hitting $78.30. 1,265,498 shares of the stock were exchanged, compared to its average volume of 1,028,224. The stock has a market capitalization of $17.91 billion, a P/E ratio of -87.00, a P/E/G ratio of 0.92 and a beta of 1.22. The business's 50-day moving average is $82.23 and its two-hundred day moving average is $82.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group has a 12 month low of $72.21 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $1.72 earnings per share. Equities research analysts expect that Principal Financial Group will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.73 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date was Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.73%. Principal Financial Group's dividend payout ratio is currently -324.44%.

Hedge Funds Weigh In On Principal Financial Group

Several hedge funds have recently bought and sold shares of PFG. Metis Global Partners LLC boosted its stake in shares of Principal Financial Group by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company's stock valued at $965,000 after purchasing an additional 533 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Principal Financial Group by 66.2% during the third 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 last quarter. Intech Investment Management LLC increased its holdings in shares of Principal Financial Group by 27.1% during the second quarter. Intech Investment Management LLC now owns 298,562 shares of the company's stock worth $23,422,000 after buying an additional 63,747 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company's stock valued at $1,403,000 after acquiring an additional 12,768 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Principal Financial Group during the 3rd quarter worth $2,441,000. 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.