Shares of Principal Financial Group Inc. (NYSE:PFG) have received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the company. Three research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $48.14.

PFG has been the topic of several research analyst reports. Bank of America Corp. cut shares of Principal Financial Group from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Stifel Nicolaus raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Sunday, July 31st. Evercore ISI started coverage on Principal Financial Group in a research note on Wednesday, July 6th. They set a “buy” rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “sell” rating and set a $46.00 target price on shares of Principal Financial Group in a report on Friday, July 29th. Finally, Zacks Investment Research lowered shares of Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, July 4th.

Shares of Principal Financial Group (NYSE:PFG) traded up 1.132% during trading on Wednesday, hitting $49.585. The stock had a trading volume of 703,898 shares. Principal Financial Group has a 1-year low of $33.09 and a 1-year high of $52.21. The firm’s 50 day moving average is $47.92 and its 200 day moving average is $43.52. The company has a market cap of $14.26 billion, a PE ratio of 11.789 and a beta of 1.65.

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Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, July 28th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same quarter in the prior year, the company earned $1.09 EPS. Equities research analysts anticipate that Principal Financial Group will post $4.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.34%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, August 31st. Principal Financial Group’s dividend payout ratio is presently 38.86%.

Institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. increased its position in shares of Principal Financial Group by 2.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 229,071 shares of the company’s stock valued at $9,037,000 after buying an additional 4,418 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Principal Financial Group by 2.0% in the first quarter. Pictet Asset Management Ltd. now owns 162,533 shares of the company’s stock valued at $6,145,000 after buying an additional 3,200 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Principal Financial Group by 1.2% in the first quarter. Geode Capital Management LLC now owns 2,225,738 shares of the company’s stock valued at $87,625,000 after buying an additional 25,529 shares during the last quarter. Norges Bank purchased a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $48,629,000. Finally, AXA purchased a new position in shares of Principal Financial Group during the first quarter valued at approximately $454,000. Institutional investors own 67.09% of the company’s stock.

About Principal Financial Group

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.

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