Principal Financial Group, Inc. (NASDAQ:PFG) Receives Average Rating of “Hold” from Brokerages

Shares of Principal Financial Group, Inc. (NASDAQ:PFG) have earned a consensus rating of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $98.10.

A number of equities analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Bank of America reduced their price target on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Morgan Stanley upped their price target on shares of Principal Financial Group from $95.00 to $107.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Weiss Ratings cut shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th.

Principal Financial Group Trading Up 1.7%

Shares of NASDAQ PFG opened at $105.22 on Tuesday. The company’s fifty day moving average is $97.99 and its 200-day moving average is $92.73. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 0.99 and a beta of 0.88. Principal Financial Group has a twelve month low of $75.00 and a twelve month high of $105.56. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period last year, the firm posted $1.81 earnings per share. Equities research analysts predict that Principal Financial Group will post 9.36 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, June 1st. Principal Financial Group’s dividend payout ratio is currently 46.92%.

Insider Activity at Principal Financial Group

In other news, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the transaction, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wee Yee Cheong sold 9,183 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the completion of the transaction, the insider owned 77,188 shares of the company’s stock, valued at $7,816,056.88. This trade represents a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,317 shares of company stock valued at $2,884,902 in the last quarter. Corporate insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Principal Financial Group in the fourth quarter worth $273,276,000. AQR Capital Management LLC lifted its position in shares of Principal Financial Group by 112.8% in the fourth quarter. AQR Capital Management LLC now owns 2,348,233 shares of the company’s stock worth $207,138,000 after purchasing an additional 1,244,668 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Principal Financial Group by 9.6% in the second quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock worth $982,617,000 after purchasing an additional 1,083,991 shares in the last quarter. UBS Group AG lifted its position in shares of Principal Financial Group by 62.3% in the third quarter. UBS Group AG now owns 2,023,880 shares of the company’s stock worth $167,800,000 after purchasing an additional 776,997 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Principal Financial Group by 23.2% in the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company’s stock worth $279,970,000 after purchasing an additional 636,334 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.