Principal Financial Group, Inc. (NASDAQ:PFG) Receives Consensus Rating of “Hold” from Analysts

Principal Financial Group, Inc. (NASDAQ:PFG) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $98.10.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. UBS Group increased their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Morgan Stanley increased their price objective on shares of Principal Financial Group from $95.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Bank of America dropped their price objective on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $92.00 price objective on shares of Principal Financial Group in a research note on Thursday, March 26th.

Principal Financial Group Stock Performance

Shares of NASDAQ:PFG opened at $102.90 on Tuesday. The firm has a market cap of $22.23 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 0.98 and a beta of 0.88. The firm’s 50 day simple moving average is $96.69 and its 200-day simple moving average is $92.27. Principal Financial Group has a one year low of $75.00 and a one year high of $105.00. 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 issued its earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period last year, the company posted $1.81 earnings per share. As a group, equities analysts predict that Principal Financial Group will post 9.36 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. This is a boost 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 3.2%. The ex-dividend date is Monday, June 1st. Principal Financial Group’s payout ratio is 45.78%.

Insider Buying and Selling

In other news, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares in the company, valued at approximately $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wee Yee Cheong sold 9,183 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider owned 77,188 shares in the company, valued at approximately $7,816,056.88. This represents a 10.63% 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 worth $2,884,902. Insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On Principal Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. DV Equities LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Principal Financial Group in the fourth quarter valued at approximately $26,000. Hilton Head Capital Partners LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in Principal Financial Group in the first quarter valued at approximately $27,000. Finally, MBM Wealth Consultants LLC acquired a new stake in Principal Financial Group in the first quarter valued at approximately $28,000. 75.08% of the stock is currently owned by 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.