Principal Financial Group, Inc. (NYSE:PFG) Receives Consensus Rating of “Reduce” from Brokerages

Principal Financial Group, Inc. (NYSE:PFG) has received a consensus recommendation of “Reduce” from the twelve analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $84.75.

A number of equities research analysts have recently weighed in on PFG shares. Royal Bank of Canada boosted their price objective 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. Barclays upped their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Bank of America decreased their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company restated an “underweight” rating and set a $75.00 target price (down from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Finally, Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research report on Wednesday, December 18th.

Principal Financial Group Trading Down 0.8 %

NYSE PFG opened at $77.71 on Tuesday. 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 simple moving average is $83.47 and its two-hundred day simple moving average is $82.23. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The company has a market capitalization of $17.77 billion, a price-to-earnings ratio of -86.34, a PEG ratio of 0.92 and a beta of 1.20.

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

Principal Financial Group Increases Dividend

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

Hedge Funds Weigh In On Principal Financial Group

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