Principal Financial Group’s (PFG) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Principal Financial Group (NYSE:PFG) in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $103.00 price objective on the stock.

Several other analysts have also issued reports on PFG. Barclays upped their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Evercore ISI raised their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Wells Fargo & Company lifted their price target on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, October 29th. Finally, Morgan Stanley set a $93.00 price objective on Principal Financial Group in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Reduce” and an average price target of $90.90.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $90.88 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a 50 day moving average price of $86.48 and a 200 day moving average price of $82.33. The stock has a market capitalization of $20.25 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. Principal Financial Group has a 52 week low of $68.39 and a 52 week high of $92.20.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter last year, the business posted $2.05 EPS. Analysts predict that Principal Financial Group will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Wednesday, December 3rd were given a $0.79 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 3.5%. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.00%.

Insider Buying and Selling at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the completion of the sale, the executive vice president directly owned 81,421 shares of the company’s stock, valued at approximately $6,924,041.84. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PFG. Aptus Capital Advisors LLC lifted its holdings in shares of Principal Financial Group by 3.5% during the third quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock worth $286,000 after buying an additional 118 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Principal Financial Group by 22.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 713 shares of the company’s stock worth $59,000 after purchasing an additional 130 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Principal Financial Group by 7.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company’s stock valued at $159,000 after purchasing an additional 134 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Principal Financial Group by 2.5% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,550 shares of the company’s stock worth $449,000 after purchasing an additional 137 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of Principal Financial Group by 1.0% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 13,800 shares of the company’s stock worth $1,144,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.