Principal Financial Group (NYSE:PFG) Price Target Raised to $82.00

Principal Financial Group (NYSE:PFG) had its price objective boosted by Morgan Stanley from $81.00 to $82.00 in a report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on PFG. Wells Fargo & Company increased their target price on Principal Financial Group from $86.00 to $91.00 and gave the company an equal weight rating in a research report on Thursday, April 11th. Evercore ISI increased 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. Keefe, Bruyette & Woods increased 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. Royal Bank of Canada increased their target price on Principal Financial Group from $75.00 to $83.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Finally, Piper Sandler increased their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a neutral rating in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of Hold and an average target price of $80.64.

Principal Financial Group Trading Up 0.3 %

Principal Financial Group stock opened at $78.48 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group has a 12 month low of $65.17 and a 12 month high of $86.79. The stock’s 50 day simple moving average is $81.57 and its two-hundred day simple moving average is $76.95. The firm has a market cap of $18.45 billion, a PE ratio of 32.03, a P/E/G ratio of 0.97 and a beta of 1.25.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, February 12th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.70 by $0.13. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the prior year, the firm posted $1.70 EPS. Analysts anticipate that Principal Financial Group will post 7.6 earnings per share for the current year.

Principal Financial Group announced that its Board of Directors has initiated a share repurchase program on Monday, February 12th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were issued a $0.69 dividend. The ex-dividend date was Monday, March 11th. This represents a $2.76 dividend on an annualized basis and a yield of 3.52%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio (DPR) is presently 112.65%.

Institutional Trading of Principal Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of PFG. GHP Investment Advisors Inc. increased its stake in shares of Principal Financial Group by 143.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock worth $27,000 after acquiring an additional 226 shares during the last quarter. Spire Wealth Management increased its stake in shares of Principal Financial Group by 152.0% in the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. ICA Group Wealth Management LLC increased its stake in shares of Principal Financial Group by 100.0% in the 1st quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter worth $31,000. Finally, Fortis Group Advisors LLC acquired a new stake in shares of Principal Financial Group in the 3rd quarter worth $33,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Company Profile

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.