Shares of Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $74.27.
A number of equities research analysts have recently commented on PFG shares. Morgan Stanley reduced their target price on shares of Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, March 3rd. Barclays increased their target price on shares of Principal Financial Group from $82.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, February 9th. Royal Bank of Canada reduced their target price on shares of Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating for the company in a research report on Thursday, March 3rd. JPMorgan Chase & Co. upped their price objective on shares of Principal Financial Group from $71.00 to $72.00 in a report on Tuesday, January 4th. Finally, Wolfe Research assumed coverage on shares of Principal Financial Group in a report on Friday, January 21st. They issued a “market perform” rating and a $79.00 price objective for the company.
Hedge funds have recently made changes to their positions in the business. BerganKDV Wealth Management LLC boosted its stake in Principal Financial Group by 5.9% during the third quarter. BerganKDV Wealth Management LLC now owns 53,161 shares of the company’s stock worth $3,424,000 after buying an additional 2,956 shares during the period. Clarius Group LLC boosted its stake in shares of Principal Financial Group by 6.4% in the fourth quarter. Clarius Group LLC now owns 4,040 shares of the company’s stock valued at $292,000 after purchasing an additional 242 shares during the period. Nordea Investment Management AB boosted its stake in shares of Principal Financial Group by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 14,842 shares of the company’s stock valued at $1,073,000 after purchasing an additional 701 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Principal Financial Group by 88.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,292 shares of the company’s stock valued at $1,106,000 after purchasing an additional 7,160 shares during the period. Finally, CRA Financial Services LLC purchased a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $217,000. 75.40% of the stock is owned by institutional investors.
NASDAQ:PFG opened at $72.34 on Friday. The company has a fifty day moving average of $71.38 and a two-hundred day moving average of $71.59. The stock has a market capitalization of $18.25 billion, a PE ratio of 11.54, a P/E/G ratio of 1.39 and a beta of 1.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.09 and a current ratio of 0.09. Principal Financial Group has a fifty-two week low of $58.66 and a fifty-two week high of $80.36.Principal Financial Group (NASDAQ:PFG – Get Rating) last issued its earnings results on Monday, February 7th. The company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.22. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Principal Financial Group had a net margin of 11.99% and a return on equity of 11.55%. During the same period in the prior year, the business earned $1.48 earnings per share. Research analysts forecast that Principal Financial Group will post 6.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Thursday, March 10th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.54%. Principal Financial Group’s dividend payout ratio (DPR) is presently 40.83%.
About Principal Financial Group (Get Rating)
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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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Principal Financial Group, Inc. (NASDAQ:PFG) Receives Average Rating of “Hold” from Analysts - Defense World
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