Jefferies Financial Group Raises Principal Financial Group (NYSE:PFG) Price Target to $78.00

Principal Financial Group (NYSE:PFGFree Report) had its target price raised by Jefferies Financial Group from $74.00 to $78.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other brokerages have also recently issued reports on PFG. Morgan Stanley upped their price objective on Principal Financial Group from $81.00 to $82.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Piper Sandler increased their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a neutral rating in a research report on Friday, April 5th. Wells Fargo & Company lowered their target price on Principal Financial Group from $91.00 to $85.00 and set an equal weight rating on the stock in a research report on Monday, April 29th. Evercore ISI raised their target price on Principal Financial Group from $84.00 to $86.00 and gave the company an in-line rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $85.00 to $89.00 and gave the company a market perform rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $81.50.

Check Out Our Latest Report on Principal Financial Group

Principal Financial Group Trading Down 1.3 %

Shares of PFG opened at $78.45 on Friday. The company has a market capitalization of $18.39 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.84 and a beta of 1.23. Principal Financial Group has a one year low of $66.21 and a one year high of $86.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50-day moving average price of $80.93 and a 200 day moving average price of $80.58.

Principal Financial Group (NYSE:PFGGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company earned $1.48 EPS. Sell-side analysts forecast that Principal Financial Group will post 7.45 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a dividend yield of 3.62%. Principal Financial Group’s dividend payout ratio (DPR) is currently 54.20%.

Institutional Investors Weigh In On Principal Financial Group

Several large investors have recently modified their holdings of the stock. City State Bank boosted its stake in shares of Principal Financial Group by 1.7% during the 1st quarter. City State Bank now owns 8,216 shares of the company’s stock worth $709,000 after acquiring an additional 141 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Principal Financial Group by 5.0% in the first quarter. CENTRAL TRUST Co now owns 3,179 shares of the company’s stock worth $274,000 after buying an additional 151 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Principal Financial Group by 1.3% in the fourth quarter. Verdence Capital Advisors LLC now owns 11,776 shares of the company’s stock worth $926,000 after buying an additional 153 shares during the period. Quent Capital LLC boosted its position in shares of Principal Financial Group by 15.5% in the fourth quarter. Quent Capital LLC now owns 1,185 shares of the company’s stock worth $93,000 after buying an additional 159 shares during the period. Finally, Jacobi Capital Management LLC boosted its position in shares of Principal Financial Group by 3.1% in the first quarter. Jacobi Capital Management LLC now owns 5,301 shares of the company’s stock worth $458,000 after buying an additional 160 shares during the period. 75.08% of the stock is owned by institutional investors.

About Principal Financial Group

(Get Free Report)

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.

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Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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