Analysts Set Principal Financial Group, Inc. (NASDAQ:PFG) Price Target at $105.83

Principal Financial Group, Inc. (NASDAQ:PFG) has been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $106.6667.

Several equities analysts have recently weighed in on the stock. Piper Sandler upped their price objective on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Jefferies Financial Group boosted their target price on Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. increased their price target on Principal Financial Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Barclays raised their price objective on Principal Financial Group from $87.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. Finally, Bank of America boosted their price objective on Principal Financial Group from $94.00 to $104.00 and gave the company an “underperform” rating in a report on Tuesday, July 28th.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $110.54 on Friday. The firm has a 50 day moving average of $111.68 and a 200-day moving average of $101.41. The company has a market cap of $23.67 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.01 and a beta of 0.88. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 52 week low of $77.34 and a 52 week high of $116.61.

Principal Financial Group (NASDAQ:PFG) last released its earnings results on Monday, July 27th. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.17. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same quarter in the previous year, the company earned $2.16 EPS. On average, equities analysts forecast that Principal Financial Group will post 9.57 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.84 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, September 3rd. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.59%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ancora Advisors LLC acquired a new stake in shares of Principal Financial Group in the 2nd quarter worth about $27,000. DV Equities LLC acquired a new position in Principal Financial Group during the 4th quarter valued at about $25,000. Hilton Head Capital Partners LLC bought a new stake in Principal Financial Group during the 4th quarter worth approximately $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Principal Financial Group in the first quarter worth approximately $27,000. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of Principal Financial Group in the first quarter worth approximately $28,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Company Profile

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.