Royal Bank of Canada Issues Positive Forecast for Principal Financial Group (NYSE:PFG) Stock Price

Principal Financial Group (NYSE:PFG) had its target price increased by Royal Bank of Canada from $87.00 to $91.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

PFG has been the subject of several other research reports. Wells Fargo & Company upped their price target on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Citigroup upped their price target on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Piper Sandler upped their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays upped their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods decreased their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $84.18 on Tuesday. The business’s 50-day moving average price is $85.84 and its two-hundred day moving average price is $82.30. 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 one year low of $71.39 and a one year high of $91.97. The company has a market capitalization of $19.25 billion, a P/E ratio of -93.53, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the firm earned $1.72 EPS. Analysts anticipate that Principal Financial Group will post 7.09 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company 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. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is currently -320.00%.

Institutional Trading of Principal Financial Group

A number of hedge funds have recently modified their holdings of PFG. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $33,000. Finally, Innealta Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $43,000. Institutional investors own 75.08% of the company’s stock.

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.