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

Shares of Principal Financial Group, Inc. (NASDAQ:PFG) have been given an average rating of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $100.90.

A number of research analysts have recently issued reports on PFG shares. UBS Group raised their price objective on Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Raymond James Financial cut Principal Financial Group from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $99.00 to $111.00 in a research note on Tuesday, May 19th. Wells Fargo & Company reduced their price objective on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $92.00 price objective on shares of Principal Financial Group in a research note on Thursday, March 26th. Finally, Morgan Stanley increased their target price on shares of Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st.

Principal Financial Group Stock Up 2.2%

Shares of NASDAQ:PFG opened at $107.75 on Friday. The firm has a fifty day moving average of $103.37 and a 200 day moving average of $95.33. Principal Financial Group has a 52-week low of $75.00 and a 52-week high of $112.45. The firm has a market capitalization of $23.28 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the firm earned $1.81 earnings per share. As a group, research analysts anticipate that Principal Financial Group will post 9.37 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 1st were issued a dividend of $0.82 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.92%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, insider Wee Yee Cheong sold 7,534 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the sale, the insider directly owned 66,443 shares in the company, valued at $6,854,259.88. This trade represents a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel George Djurasovic sold 2,571 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the completion of the sale, the general counsel owned 21,906 shares of the company’s stock, valued at $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,317 shares of company stock valued at $2,884,902. 1.13% of the stock is currently owned by company insiders.

Institutional Trading of Principal Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Prosperity Consulting Group LLC raised its holdings in Principal Financial Group by 1.6% during the first quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company’s stock worth $624,000 after purchasing an additional 111 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Principal Financial Group by 3.5% in the third quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock valued at $286,000 after buying an additional 118 shares in the last quarter. Parallel Advisors LLC increased its holdings in Principal Financial Group by 7.6% in the fourth quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock valued at $149,000 after buying an additional 119 shares in the last quarter. Blue Trust Inc. increased its holdings in Principal Financial Group by 14.8% in the first quarter. Blue Trust Inc. now owns 921 shares of the company’s stock valued at $83,000 after buying an additional 119 shares in the last quarter. Finally, Beacon Financial Group grew its position in shares of Principal Financial Group by 2.8% in the first quarter. Beacon Financial Group now owns 4,451 shares of the company’s stock valued at $401,000 after purchasing an additional 120 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Company Profile

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.