Principal Financial Group, Inc. (NASDAQ:PFG - Get Rating) has received an average rating of "Hold" from the eleven analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $72.82.
Several brokerages have weighed in on PFG. Citigroup assumed coverage on shares of Principal Financial Group in a report on Monday, May 23rd. They set a "sell" rating and a $63.00 price objective for the company. Morgan Stanley dropped their price target on shares of Principal Financial Group from $75.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 3rd. Piper Sandler boosted their target price on shares of Principal Financial Group from $76.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, April 6th. Finally, Royal Bank of Canada dropped their target price on shares of Principal Financial Group from $82.00 to $79.00 and set a "sector perform" rating on the stock in a report on Thursday, March 3rd.
Shares of Principal Financial Group stock opened at $66.33 on Monday. Principal Financial Group has a 12-month low of $58.66 and a 12-month high of $80.36. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.36. The stock has a market cap of $16.76 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.46. The company has a 50-day moving average of $71.60 and a two-hundred day moving average of $71.89.
Principal Financial Group (NASDAQ:PFG - Get Rating) last announced its earnings results on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.12. Principal Financial Group had a net margin of 11.08% and a return on equity of 12.25%. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned $1.53 earnings per share. On average, sell-side analysts forecast that Principal Financial Group will post 6.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Thursday, June 2nd will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Wednesday, June 1st. Principal Financial Group's dividend payout ratio (DPR) is presently 43.91%.
In other news, EVP Wee Yee Cheong sold 10,000 shares of the business's stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $71.00, for a total transaction of $710,000.00. Following the sale, the executive vice president now directly owns 37,093 shares in the company, valued at $2,633,603. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.17% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFG. Vanguard Group Inc. boosted its stake in Principal Financial Group by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 29,028,108 shares of the company's stock worth $2,130,953,000 after purchasing an additional 150,598 shares during the period. BlackRock Inc. raised its holdings in shares of Principal Financial Group by 3.4% during the 1st quarter. BlackRock Inc. now owns 23,253,147 shares of the company's stock valued at $1,707,017,000 after buying an additional 756,508 shares in the last quarter. Bank of America Corp DE grew its position in Principal Financial Group by 26.3% during the 1st quarter. Bank of America Corp DE now owns 14,006,960 shares of the company's stock worth $1,028,251,000 after acquiring an additional 2,916,493 shares during the last quarter. State Street Corp grew its position in Principal Financial Group by 1.3% during the 4th quarter. State Street Corp now owns 13,491,017 shares of the company's stock worth $975,805,000 after acquiring an additional 174,433 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Principal Financial Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,992,520 shares of the company's stock worth $360,225,000 after buying an additional 57,389 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.
Principal Financial Group Company Profile (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 - MarketBeat
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