Principal Financial Group (NYSE:PFG) Price Target Lowered to $85.00 at Wells Fargo & Company

Principal Financial Group (NYSE:PFG) had its target price decreased by Wells Fargo & Company from $91.00 to $85.00 in a report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. Piper Sandler increased their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a neutral rating in a report on Friday, April 5th. Morgan Stanley increased their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an equal weight rating in a report on Monday, April 15th. Evercore ISI increased their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an in-line rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a market perform rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada increased their target price on shares of Principal Financial Group from $75.00 to $83.00 and gave the company a sector perform rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of Hold and a consensus target price of $80.09.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $80.43 on Monday. The firm’s fifty day moving average price is $81.79 and its 200-day moving average price is $77.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.27. The stock has a market cap of $18.91 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 0.84 and a beta of 1.25. Principal Financial Group has a fifty-two week low of $65.17 and a fifty-two week high of $86.79.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter last year, the business posted $1.48 EPS. On average, equities research analysts expect that Principal Financial Group will post 7.58 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.69 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.43%. Principal Financial Group’s payout ratio is presently 52.67%.

Principal Financial Group announced that its Board of Directors has authorized a share repurchase plan on Monday, February 12th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Principal Financial Group

Large investors have recently modified their holdings of the stock. Spire Wealth Management boosted its stake in shares of Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at about $31,000. Fortis Group Advisors LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $33,000. Newbridge Financial Services Group Inc. purchased a new position in Principal Financial Group during the 4th quarter valued at about $33,000. Finally, Riverview Trust Co purchased a new position in Principal Financial Group during the 1st quarter valued at about $34,000. Institutional investors own 75.08% of the company’s stock.

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.