Brokerages Set Principal Financial Group, Inc. (NYSE:PFG) Price Target at $86.57

Shares of Principal Financial Group, Inc. (NYSE:PFG) have been assigned an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.57.

PFG has been the subject of a number of analyst reports. Barclays upped their price target on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th.

Principal Financial Group Stock Performance

NYSE:PFG opened at $72.94 on Thursday. The company has a market cap of $16.45 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.98. The company’s 50-day moving average price is $84.12 and its 200-day moving average price is $83.67. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group Increases Dividend

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

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in Principal Financial Group by 2.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,223 shares of the company’s stock worth $404,000 after purchasing an additional 132 shares during the period. Leavell Investment Management Inc. increased its stake in Principal Financial Group by 5.4% during the 4th quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock worth $208,000 after buying an additional 138 shares during the period. CENTRAL TRUST Co lifted its holdings in Principal Financial Group by 9.6% during the 4th quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after buying an additional 151 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in Principal Financial Group by 6.3% during the 4th quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after buying an additional 156 shares in the last quarter. Finally, Hartford Funds Management Co LLC boosted its position in Principal Financial Group by 1.5% in the 4th quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock valued at $870,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds 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.