Principal Financial Group, Inc. (NYSE:PFG) Given Average Rating of “Hold” by Analysts

Principal Financial Group, Inc. (NYSE:PFG) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $85.92.

Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Morgan Stanley lowered their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company raised their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Bank of America dropped their target price on shares of 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.

Principal Financial Group Stock Up 0.6 %

Shares of NYSE PFG opened at $87.28 on Friday. Principal Financial Group has a 12-month low of $71.39 and a 12-month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $86.38 and its 200-day moving average price is $82.45. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of -96.98, a P/E/G ratio of 1.01 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter last year, the business posted $1.72 EPS. On average, equities research analysts anticipate that Principal Financial Group will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change 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

A number of large investors have recently modified their holdings of PFG. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Principal Financial Group in the second quarter valued at approximately $32,000. Family Firm Inc. purchased a new stake in Principal Financial Group in the 2nd quarter valued at $33,000. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the third quarter valued at about $33,000. Finally, Innealta Capital LLC purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

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.