Principal Financial Group, Inc. (NASDAQ:PFG) Stock Has Consensus Target Price of $107.75

Principal Financial Group, Inc. (NASDAQ:PFG) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $107.75.

Several equities research analysts have issued reports on PFG shares. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research report on Friday, October 9th. Piper Sandler decreased their target price on Principal Financial Group from $128.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Wells Fargo & Company decreased their target price on Principal Financial Group from $112.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 28th. Raymond James Financial reiterated an “outperform” rating and set a $121.00 target price on shares of Principal Financial Group in a research note on Monday, August 17th. Finally, Atlantic Securities set a $94.00 price target on Principal Financial Group in a report on Wednesday, July 15th.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Principal Financial Group in the second quarter valued at approximately $2,157,181,000. State Street Corp raised its holdings in Principal Financial Group by 0.8% in the 2nd quarter. State Street Corp now owns 10,264,856 shares of the company’s stock valued at $1,106,346,000 after buying an additional 85,014 shares during the last quarter. Bank of America Corp DE boosted its position in Principal Financial Group by 5.0% during the 1st quarter. Bank of America Corp DE now owns 8,819,452 shares of the company’s stock worth $794,721,000 after buying an additional 420,319 shares during the period. Dimensional Fund Advisors LP boosted its position in Principal Financial Group by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,886,509 shares of the company’s stock worth $350,187,000 after buying an additional 119,327 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Principal Financial Group by 12.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,216,125 shares of the company’s stock worth $238,854,000 after buying an additional 244,550 shares during the period. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

Shares of PFG opened at $112.82 on Friday. The firm has a market capitalization of $23.96 billion, a PE ratio of 12.54, a PEG ratio of 1.34 and a beta of 0.87. The company’s 50-day moving average is $112.33 and its 200-day moving average is $103.95. Principal Financial Group has a fifty-two week low of $80.00 and a fifty-two week high of $121.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.28 and a quick ratio of 0.28.

Principal Financial Group (NASDAQ:PFG) last announced its earnings results on Thursday, October 29th. The company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.46 by ($0.24). Principal Financial Group had a return on equity of 16.51% and a net margin of 11.89%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the firm posted $2.32 EPS. Equities analysts forecast that Principal Financial Group will post 9.18 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Wednesday, December 2nd will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.0%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 2nd. Principal Financial Group’s dividend payout ratio is currently 37.78%.

Principal Financial Group Company Profile

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.