Principal Financial Group (NYSE:PFG) Price Target Raised to $80.00 at Barclays

Principal Financial Group (NYSE:PFG) had its target price lifted by Barclays from $77.00 to $80.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Other analysts also recently issued research reports about the company. Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.15.

Principal Financial Group Trading Up 2.9 %

Shares of PFG stock opened at $82.33 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a fifty day simple moving average of $80.14 and a two-hundred day simple moving average of $82.09. The firm has a market capitalization of $18.83 billion, a PE ratio of 11.46, a PEG ratio of 0.79 and a beta of 1.22. Principal Financial Group has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.64%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s dividend payout ratio (DPR) is currently 43.71%.

Institutional Investors Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its position in shares of Principal Financial Group by 64.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,630 shares of the company’s stock valued at $358,000 after purchasing an additional 1,818 shares during the last quarter. HighTower Advisors LLC boosted its stake in Principal Financial Group by 8.1% during the fourth quarter. HighTower Advisors LLC now owns 14,451 shares of the company’s stock worth $1,119,000 after buying an additional 1,080 shares during the period. Avantax Planning Partners Inc. boosted its stake in Principal Financial Group by 4.4% during the fourth quarter. Avantax Planning Partners Inc. now owns 36,110 shares of the company’s stock worth $2,795,000 after buying an additional 1,523 shares during the period. Independent Advisor Alliance increased its position in Principal Financial Group by 19.4% during the fourth quarter. Independent Advisor Alliance now owns 4,573 shares of the company’s stock valued at $354,000 after acquiring an additional 742 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Principal Financial Group by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 29,295 shares of the company’s stock valued at $2,268,000 after acquiring an additional 1,772 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

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.