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

Shares of Principal Financial Group, Inc. (NYSE:PFG) have earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $85.92.

A number of research analysts recently commented on PFG shares. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Barclays upped their price objective 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. Piper Sandler upped their price objective on Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company upped their price objective on Principal Financial Group from $69.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th.

Principal Financial Group Price Performance

Shares of PFG opened at $82.78 on Friday. The company has a market cap of $18.67 billion, a P/E ratio of 12.39, a PEG ratio of 0.76 and a beta of 1.17. The stock has a fifty day moving average price of $83.06 and a 200 day moving average price of $83.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group has a 12 month low of $72.21 and a 12 month high of $91.97.

Principal Financial Group Increases Dividend

The company also recently disclosed 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. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.62%. Principal Financial Group’s dividend payout ratio is 44.91%.

Institutional Trading of Principal Financial Group

Several institutional investors have recently modified their holdings of PFG. Norges Bank acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at $217,021,000. Deutsche Bank AG lifted its holdings in shares of Principal Financial Group by 73.5% in the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company’s stock valued at $114,726,000 after buying an additional 627,865 shares during the period. Woodline Partners LP acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at $28,448,000. Northern Trust Corp lifted its holdings in shares of Principal Financial Group by 9.8% in the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock valued at $283,546,000 after buying an additional 326,604 shares during the period. Finally, Amundi raised its position in shares of Principal Financial Group by 24.1% during the fourth quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after purchasing an additional 264,383 shares during the period. Institutional investors and hedge funds 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.