Principal Financial Group, Inc. (NASDAQ:PFG) Given Average Rating of “Hold” by Brokerages

Principal Financial Group, Inc. (NASDAQ:PFG) has been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $94.1111.

A number of research analysts recently weighed in on PFG shares. Piper Sandler raised their target price on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, December 23rd. Barclays reissued an “underweight” rating and set a $85.00 price target on shares of Principal Financial Group in a research report on Thursday, January 8th. Weiss Ratings upgraded shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Wells Fargo & Company upgraded Principal Financial Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $85.00 to $91.00 in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $103.00 target price on shares of Principal Financial Group in a research report on Monday, January 5th.

Insider Activity

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the sale, the chief executive officer owned 136,828 shares of the company’s stock, valued at approximately $12,998,660. This represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 24,965 shares of company stock worth $2,352,460. Corporate insiders own 1.08% of the company’s stock.

Institutional Trading of Principal Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new stake in shares of Principal Financial Group in the 1st quarter valued at about $244,000. NewEdge Advisors LLC grew its holdings in Principal Financial Group by 24.1% during the first quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock worth $633,000 after purchasing an additional 1,455 shares during the period. Empowered Funds LLC increased its position in Principal Financial Group by 11.9% during the first quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after buying an additional 497 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in Principal Financial Group by 3.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 34,409 shares of the company’s stock worth $2,733,000 after buying an additional 1,130 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Principal Financial Group by 5.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,585 shares of the company’s stock valued at $4,018,000 after buying an additional 2,463 shares during the period. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Down 1.2%

NASDAQ:PFG opened at $86.68 on Thursday. The company has a market cap of $18.80 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 0.82 and a beta of 0.87. Principal Financial Group has a twelve month low of $68.39 and a twelve month high of $97.88. The business has a 50 day moving average price of $92.08 and a two-hundred day moving average price of $86.86. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The company had revenue of $4.58 billion for the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Principal Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.7%. Principal Financial Group’s payout ratio is 60.72%.

About Principal Financial Group

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.