Principal Financial Group, Inc. (NASDAQ:PFG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Principal Financial Group, Inc. (NASDAQ:PFG) have been assigned a consensus rating of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $95.3333.

PFG has been the topic of several research analyst reports. Bank of America dropped their target price on Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings downgraded Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. UBS Group boosted their price target on Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Principal Financial Group in a report on Thursday, March 26th. Finally, Barclays upped their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company an “underweight” rating in a report on Friday, April 24th.

Principal Financial Group Stock Up 0.3%

Shares of Principal Financial Group stock opened at $100.77 on Friday. The firm’s 50 day moving average price is $93.27 and its 200-day moving average price is $90.53. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group has a 52-week low of $75.00 and a 52-week high of $103.00. The company has a market cap of $21.77 billion, a P/E ratio of 14.42, a PEG ratio of 0.95 and a beta of 0.89.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the firm earned $1.81 EPS. On average, sell-side analysts predict that Principal Financial Group will post 9.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 3.3%. Principal Financial Group’s payout ratio is currently 45.78%.

Insider Transactions at Principal Financial Group

In other news, insider Wee Yee Cheong sold 9,183 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $101.26, for a total value of $929,870.58. Following the sale, the insider owned 77,188 shares in the company, valued at $7,816,056.88. This represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the sale, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. The trade was a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,572 shares of company stock worth $1,776,769 in the last 90 days. Company insiders own 1.13% of the company’s stock.

Institutional Trading of Principal Financial Group

Hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC purchased a new stake in Principal Financial Group during the fourth quarter worth $25,000. Hilton Head Capital Partners LLC purchased a new position in Principal Financial Group during the fourth quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Principal Financial Group during the fourth quarter worth approximately $26,000. Valley Wealth Managers Inc. purchased a new position in Principal Financial Group during the first quarter worth approximately $27,000. Finally, MBM Wealth Consultants LLC purchased a new position in Principal Financial Group during the first quarter worth approximately $28,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

About Principal Financial Group

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.