Principal Financial Group (NYSE:PFG) Given New $69.00 Price Target at Wells Fargo & Company

Principal Financial Group (NYSE:PFGFree Report) had its price objective cut by Wells Fargo & Company from $75.00 to $69.00 in a report released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada upped their price objective on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Bank of America cut their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $93.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Finally, Barclays upped their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.25.

View Our Latest Stock Report on Principal Financial Group

Principal Financial Group Stock Performance

Shares of PFG opened at $78.84 on Tuesday. Principal Financial Group has a 12-month low of $72.21 and a 12-month high of $91.97. The stock has a market cap of $18.03 billion, a P/E ratio of -87.60, a PEG ratio of 0.92 and a beta of 1.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $81.64 and a two-hundred day moving average of $82.16.

Principal Financial Group (NYSE:PFGGet Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. As a group, research analysts predict that Principal Financial Group will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given 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 annualized dividend and a yield of 3.70%. Principal Financial Group’s dividend payout ratio is -324.44%.

Institutional Trading of Principal Financial Group

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Principal Financial Group by 65.0% in the second quarter. American Century Companies Inc. now owns 166,052 shares of the company’s stock valued at $13,027,000 after acquiring an additional 65,385 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Principal Financial Group by 2.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 78,575 shares of the company’s stock worth $6,190,000 after purchasing an additional 1,960 shares during the period. Meeder Advisory Services Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at about $218,000. Federated Hermes Inc. grew its holdings in shares of Principal Financial Group by 7.6% during the 2nd quarter. Federated Hermes Inc. now owns 19,430 shares of the company’s stock worth $1,524,000 after purchasing an additional 1,370 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in Principal Financial Group by 964.1% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 2,788 shares of the company’s stock worth $219,000 after purchasing an additional 2,526 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Principal Financial Group (NYSE:PFG)

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