Principal Financial Group (NYSE:PFG) Price Target Raised to $92.00 at Keefe, Bruyette & Woods

Principal Financial Group (NYSE:PFG) had its price target hoisted by Keefe, Bruyette & Woods from $90.00 to $92.00 in a research report released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Barclays boosted their target price on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. BMO Capital Markets assumed coverage on Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective on the stock. Piper Sandler upped their price objective on Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.54.

Principal Financial Group Stock Down 0.6 %

Shares of PFG opened at $84.94 on Wednesday. The company has a market capitalization of $19.43 billion, a PE ratio of 11.46, a PEG ratio of 0.79 and a beta of 1.22. Principal Financial Group has a 12 month low of $72.21 and a 12 month high of $91.97. The stock’s 50-day moving average price is $80.03 and its two-hundred day moving average price is $82.07. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. Principal Financial Group’s payout ratio is 43.71%.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $217,021,000. Amundi increased its stake in shares of Principal Financial Group by 24.1% in the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after acquiring an additional 264,383 shares during the period. KBC Group NV increased its stake in shares of Principal Financial Group by 398.4% in the fourth quarter. KBC Group NV now owns 291,379 shares of the company’s stock worth $22,555,000 after acquiring an additional 232,915 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Principal Financial Group by 85.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock worth $40,041,000 after acquiring an additional 215,045 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Principal Financial Group during the fourth quarter worth $15,821,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Company Profile

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.