Principal Financial Group, Inc. (NASDAQ:PFG) Given Consensus Rating of “Hold” by Brokerages

Principal Financial Group, Inc. (NASDAQ:PFG) has received an average rating of “Hold” from the twelve research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $100.90.

A number of brokerages recently issued reports on PFG. Bank of America restated an “underperform” rating and set a $95.00 target price (down from $98.00) on shares of Principal Financial Group in a research report on Wednesday. Citigroup lowered shares of Principal Financial Group from a “sell” rating to an “underperform” rating in a report on Wednesday. UBS Group lifted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Wells Fargo & Company decreased their price target on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. Finally, Morgan Stanley lifted 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.

Principal Financial Group Stock Up 2.2%

Shares of NASDAQ PFG opened at $107.75 on Friday. Principal Financial Group has a 1 year low of $75.00 and a 1 year high of $112.45. The firm’s 50 day moving average price is $103.37 and its 200 day moving average price is $95.33. The firm has a market cap of $23.28 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Principal Financial Group (NASDAQ:PFG) last announced its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the business earned $1.81 earnings per share. As a group, sell-side analysts anticipate that Principal Financial Group will post 9.37 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 1st were given a dividend of $0.82 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. Principal Financial Group’s dividend payout ratio is currently 46.92%.

Insider Buying and Selling

In related news, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the completion of the sale, the general counsel owned 21,906 shares of the company’s stock, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wee Yee Cheong sold 7,534 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total transaction of $777,207.44. Following the completion of the transaction, the insider directly owned 66,443 shares in the company, valued at approximately $6,854,259.88. This represents a 10.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,317 shares of company stock valued at $2,884,902. Corporate insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Wealth Management Group LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $998,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $32,473,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Principal Financial Group by 47.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company’s stock worth $4,630,000 after purchasing an additional 16,171 shares in the last quarter. LBP AM SA acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $10,400,000. Finally, VCI Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $1,650,000. 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.