Principal Financial Group (NYSE:PFG) PT Raised to $90.00 at Piper Sandler

Principal Financial Group (NYSE:PFG) had its target price upped by Piper Sandler from $85.00 to $90.00 in a report issued on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

PFG has been the topic of several other research reports. Morgan Stanley dropped their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an equal weight rating on the stock in a research note on Monday, August 19th. Raymond James upgraded Principal Financial Group from a market perform rating to a strong-buy rating and set a $99.00 target price on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised Principal Financial Group from an underweight rating to a neutral rating and boosted their price target for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Jefferies Financial Group raised their price objective on Principal Financial Group from $73.00 to $76.00 and gave the stock a hold rating in a research note on Thursday, July 18th. Finally, Citigroup lifted their price objective on Principal Financial Group from $68.00 to $70.00 and gave the company a sell rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group presently has an average rating of Hold and a consensus price target of $85.50.

Principal Financial Group Stock Up 3.2 %

Principal Financial Group stock opened at $87.32 on Wednesday. The stock has a market cap of $20.22 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a fifty day moving average of $80.35 and a 200 day moving average of $81.32. Principal Financial Group has a one year low of $66.21 and a one year high of $88.26.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.24). The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same period in the previous year, the company earned $1.53 EPS. As a group, sell-side analysts predict that Principal Financial Group will post 7.31 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were issued a $0.72 dividend. The ex-dividend date was Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.30%. Principal Financial Group’s payout ratio is currently 54.96%.

Institutional Investors Weigh In On Principal Financial Group

A number of institutional investors have recently added to or reduced their stakes in PFG. EdgeRock Capital LLC bought a new position in shares of Principal Financial Group during the second quarter worth $26,000. Riverview Trust Co purchased a new stake in Principal Financial Group in the 1st quarter worth $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Principal Financial Group in the 4th quarter worth $33,000. Family Firm Inc. bought a new position in shares of Principal Financial Group during the 2nd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Principal Financial Group by 319.3% in the first quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock worth $43,000 after purchasing an additional 380 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Company Profile

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.