Principal Financial Group (NYSE:PFG) Price Target Raised to $93.00

Principal Financial Group (NYSE:PFG) had its price target increased by UBS Group from $87.00 to $93.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on PFG. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. BMO Capital Markets started coverage on Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Morgan Stanley reissued an “underweight” rating and set a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised their price target on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.57.

Principal Financial Group Price Performance

Shares of PFG opened at $72.94 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $84.12 and its 200 day simple moving average is $83.67. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.98. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.11%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

Institutional Trading of Principal Financial Group

A number of institutional investors have recently bought and sold shares of the business. Curio Wealth LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group during the 4th quarter worth $33,000. Ameriflex Group Inc. bought a new position in Principal Financial Group during the 4th quarter worth $37,000. Navigoe LLC acquired a new position in Principal Financial Group in the 4th quarter valued at $37,000. Finally, Covestor Ltd lifted its position in shares of Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company’s stock valued at $42,000 after acquiring an additional 319 shares during the period. Institutional investors own 75.08% of the company’s stock.

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.