Principal Financial Group, Inc. (NASDAQ:PFG) Receives $98.10 Consensus Price Target from Brokerages

Principal Financial Group, Inc. (NASDAQ:PFG) has earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $98.10.

Several research firms recently commented on PFG. Keefe, Bruyette & Woods restated a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a research note on Thursday, March 26th. Wells Fargo & Company decreased their price target on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Morgan Stanley upped their price target on shares of Principal Financial Group from $95.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Evercore set a $108.00 price target on shares of Principal Financial Group in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 1st.

Principal Financial Group Price Performance

NASDAQ:PFG opened at $103.51 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s fifty day moving average price is $97.66 and its two-hundred day moving average price is $92.65. Principal Financial Group has a one year low of $75.00 and a one year high of $105.00. The company has a market cap of $22.36 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.95 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the company posted $1.81 earnings per share. Equities analysts expect that Principal Financial Group will post 9.36 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.92%.

Insider Activity

In related news, insider Wee Yee Cheong sold 7,534 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $103.16, for a total transaction of $777,207.44. Following the completion of the sale, the insider owned 66,443 shares of the company’s stock, valued at $6,854,259.88. This represents a 10.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 transaction of $259,233.93. Following the sale, the general counsel directly owned 21,906 shares of the company’s stock, valued at $2,208,781.98. This represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,317 shares of company stock valued at $2,884,902 in the last ninety days. 1.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Principal Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Mediolanum International Funds Ltd lifted its position in Principal Financial Group by 41.5% during the third quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock worth $10,504,000 after purchasing an additional 37,357 shares during the period. National Wealth Management Group LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth about $998,000. Great Lakes Advisors LLC bought a new position in shares of Principal Financial Group in the third quarter worth about $924,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Principal Financial Group by 47.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company’s stock worth $4,630,000 after acquiring an additional 16,171 shares during the last quarter. Finally, VCI Wealth Management LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth about $1,650,000. Institutional investors own 75.08% of the company’s stock.

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.