Principal Financial Group (NYSE:PFG) Sets New 1-Year Low – Here’s Why

Principal Financial Group, Inc. (NYSE:PFG)’s share price reached a new 52-week low during mid-day trading 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

Several research firms have weighed in on PFG. UBS Group lifted their price target on shares of Principal Financial Group from $87.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods upped their target price 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.57.

Principal Financial Group Stock Up 0.9 %

The stock has a fifty day simple moving average of $83.36 and a two-hundred day simple moving average of $83.36. The firm has a market cap of $15.83 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 4.28%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 44.91%.

Institutional Trading of Principal Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Curio Wealth LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter worth about $33,000. Ameriflex Group Inc. purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at about $37,000. Navigoe LLC bought a new stake in shares of Principal Financial Group during the 4th 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 in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

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.