Principal Financial Group, Inc. (NYSE:PFG) Given Average Recommendation of “Reduce” by Analysts

Principal Financial Group, Inc. (NYSE:PFG) has earned an average rating of “Reduce” from the twelve research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $84.75.

A number of analysts recently issued reports on the stock. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Bank of America lowered their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $75.00 price objective (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $77.71 on Tuesday. The company has a market capitalization of $17.77 billion, a PE ratio of -86.34, a PEG ratio of 0.92 and a beta of 1.20. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $83.47 and its 200-day moving average price is $82.23. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the prior year, the firm posted $1.72 EPS. On average, equities analysts anticipate that Principal Financial Group will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is -324.44%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the third quarter worth $33,000. Truvestments Capital LLC purchased a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $43,000. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $45,000. Innealta Capital LLC purchased a new position in shares of Principal Financial Group during the second quarter worth about $43,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Principal Financial Group in the third quarter worth approximately $50,000. 75.08% of the stock is owned by institutional investors.

About Principal Financial Group

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.