Principal Financial Group (NYSE:PFG) Price Target Cut to $90.00 by Analysts at Keefe, Bruyette & Woods

Principal Financial Group (NYSE:PFG) had its target price lowered by Keefe, Bruyette & Woods from $93.00 to $90.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

PFG has been the topic of several other reports. Bank of America cut their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $95.00 to $92.00 in a research note on Tuesday. Royal Bank of Canada upped their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average price target of $84.75.

Principal Financial Group Trading Down 2.5 %

Shares of NYSE:PFG opened at $76.34 on Friday. The business’s 50-day moving average is $81.79 and its 200 day moving average is $82.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group has a 1 year low of $72.21 and a 1 year high of $91.97. The firm has a market capitalization of $17.46 billion, a P/E ratio of -84.82, a P/E/G ratio of 0.92 and a beta of 1.22.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the business earned $1.72 earnings per share. On average, research analysts predict that Principal Financial Group will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $0.73 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.82%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is currently -324.44%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group in the 3rd quarter worth $33,000. Truvestments Capital LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter worth about $43,000. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the 3rd quarter valued at about $45,000. Sugarloaf Wealth Management LLC boosted its holdings in Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after buying an additional 195 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Principal Financial Group during the 3rd quarter worth approximately $50,000. 75.08% of the stock is owned by institutional investors and hedge funds.

About Principal Financial Group

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.