Principal Financial Group (NYSE:PFG) Price Target Raised to $92.00 at Keefe, Bruyette & Woods

Principal Financial Group (NYSE:PFG) had its target price boosted by Keefe, Bruyette & Woods from $90.00 to $92.00 in a research report released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a research note on Tuesday, January 7th. Barclays upped their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Piper Sandler upped their price objective on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average price target of $85.54.

Principal Financial Group Stock Down 0.6 %

Principal Financial Group stock opened at $84.94 on Wednesday. Principal Financial Group has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50 day moving average price of $80.03 and a 200 day moving average price of $82.07. The company has a market capitalization of $19.43 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.79 and a beta of 1.22.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.75 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 12th. This represents a $3.00 annualized dividend and a yield of 3.53%. Principal Financial Group’s dividend payout ratio is 43.71%.

Institutional Trading of Principal Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $217,021,000. Amundi boosted its position in Principal Financial Group by 24.1% during the 4th quarter. Amundi now owns 1,359,779 shares of the company’s stock worth $106,511,000 after acquiring an additional 264,383 shares during the last quarter. KBC Group NV boosted its holdings in shares of Principal Financial Group by 398.4% in the 4th quarter. KBC Group NV now owns 291,379 shares of the company’s stock valued at $22,555,000 after buying an additional 232,915 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Principal Financial Group by 85.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company’s stock valued at $40,041,000 after buying an additional 215,045 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Principal Financial Group in the 4th quarter valued at $15,821,000. 75.08% of the stock is owned by institutional investors.

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.