Analysts Set Principal Financial Group, Inc. (NASDAQ:PFG) PT at $105.83

Shares of Principal Financial Group, Inc. (NASDAQ:PFG) have earned an average rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $106.6667.

A number of research firms have issued reports on PFG. Barclays raised their target price on Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Jefferies Financial Group upped their price target on Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Piper Sandler increased their price target on Principal Financial Group from $113.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Raymond James Financial reissued an “outperform” rating and issued a $121.00 price objective on shares of Principal Financial Group in a report on Monday. Finally, Morgan Stanley boosted their price objective on Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th.

Principal Financial Group Stock Up 0.2%

Principal Financial Group stock opened at $113.14 on Friday. The firm has a 50 day moving average price of $111.61 and a 200-day moving average price of $101.18. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. Principal Financial Group has a twelve month low of $77.34 and a twelve month high of $116.61. The company has a market capitalization of $24.22 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.04 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. As a group, equities analysts predict that Principal Financial Group will post 9.57 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be paid a $0.84 dividend. The ex-dividend date is Thursday, September 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.82. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. Principal Financial Group’s dividend payout ratio is 46.59%.

Insider Activity

In other news, insider Wee Yee Cheong sold 7,534 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the sale, the insider owned 66,443 shares of the company’s stock, valued at $6,854,259.88. The trade was a 10.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Focus Financial Network Inc. raised its stake in shares of Principal Financial Group by 2.0% during the 2nd quarter. Focus Financial Network Inc. now owns 5,613 shares of the company’s stock worth $605,000 after acquiring an additional 110 shares in the last quarter. Prosperity Consulting Group LLC boosted its stake in Principal Financial Group by 1.6% in the first quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company’s stock valued at $624,000 after acquiring an additional 111 shares in the last quarter. Parallel Advisors LLC boosted its stake in Principal Financial Group by 7.6% in the fourth quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock valued at $149,000 after acquiring an additional 119 shares in the last quarter. Blue Trust Inc. grew its holdings in Principal Financial Group by 14.8% in the first quarter. Blue Trust Inc. now owns 921 shares of the company’s stock worth $83,000 after purchasing an additional 119 shares during the last quarter. Finally, Beacon Financial Group increased its position in shares of Principal Financial Group by 2.8% during the first quarter. Beacon Financial Group now owns 4,451 shares of the company’s stock worth $401,000 after purchasing an additional 120 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 (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.