Principal Financial Group, Inc. (NYSE:PFG) Given Average Recommendation of “Reduce” by Analysts

Principal Financial Group, Inc. (NYSE:PFG) has been given an average recommendation of “Reduce” by the eleven research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $80.64.

Several research analysts recently issued reports on PFG shares. Morgan Stanley lifted their target price on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada upped their target price on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Evercore ISI increased their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Piper Sandler lifted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Romano Brothers AND Company raised its stake in Principal Financial Group by 29.0% in the 1st quarter. Romano Brothers AND Company now owns 6,485 shares of the company’s stock valued at $560,000 after acquiring an additional 1,457 shares during the period. AMF Tjanstepension AB raised its position in shares of Principal Financial Group by 282.0% in the first quarter. AMF Tjanstepension AB now owns 308,308 shares of the company’s stock valued at $26,633,000 after purchasing an additional 227,608 shares during the period. GoalVest Advisory LLC raised its position in shares of Principal Financial Group by 3.7% in the first quarter. GoalVest Advisory LLC now owns 17,707 shares of the company’s stock valued at $1,528,000 after purchasing an additional 636 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Principal Financial Group by 8.6% during the 1st quarter. Sound Income Strategies LLC now owns 181,776 shares of the company’s stock valued at $15,689,000 after buying an additional 14,339 shares in the last quarter. Finally, Riverview Trust Co bought a new position in Principal Financial Group in the 1st quarter worth approximately $34,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.3 %

Principal Financial Group stock opened at $78.48 on Thursday. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The firm’s fifty day moving average price is $81.57 and its two-hundred day moving average price is $76.95. Principal Financial Group has a 1-year low of $65.17 and a 1-year high of $86.79. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. During the same quarter last year, the firm earned $1.70 EPS. On average, equities research analysts predict that Principal Financial Group will post 7.6 earnings per share for the current fiscal year.

Principal Financial Group announced that its Board of Directors has initiated a stock buyback plan on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were paid a $0.69 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.76 annualized dividend and a yield of 3.52%. Principal Financial Group’s dividend payout ratio is presently 112.65%.

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.