Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $74.27.
Several research analysts recently issued reports on PFG shares. Jefferies Financial Group started coverage on shares of Principal Financial Group in a research note on Tuesday, January 25th. They issued an “underperform” rating and a $62.00 price target for the company. Morgan Stanley cut their price objective on shares of Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 3rd. Royal Bank of Canada dropped their price target on shares of Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating on the stock in a report on Thursday, March 3rd. Piper Sandler raised their price target on shares of Principal Financial Group from $76.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 6th. Finally, Barclays raised their price target on shares of Principal Financial Group from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, February 9th.
Institutional investors have recently made changes to their positions in the business. BerganKDV Wealth Management LLC grew its stake in shares of Principal Financial Group by 5.9% during the third quarter. BerganKDV Wealth Management LLC now owns 53,161 shares of the company’s stock worth $3,424,000 after acquiring an additional 2,956 shares during the last quarter. Clarius Group LLC boosted its position in Principal Financial Group by 6.4% in the 4th quarter. Clarius Group LLC now owns 4,040 shares of the company’s stock worth $292,000 after purchasing an additional 242 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Principal Financial Group by 13.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 116,323 shares of the company’s stock worth $8,516,000 after purchasing an additional 13,532 shares in the last quarter. Nordea Investment Management AB boosted its position in Principal Financial Group by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 14,842 shares of the company’s stock worth $1,073,000 after purchasing an additional 701 shares in the last quarter. Finally, Venture Visionary Partners LLC boosted its position in Principal Financial Group by 14.6% in the 4th quarter. Venture Visionary Partners LLC now owns 9,558 shares of the company’s stock worth $691,000 after purchasing an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.
Principal Financial Group (NASDAQ:PFG – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.07. Principal Financial Group had a net margin of 11.08% and a return on equity of 12.25%. During the same period last year, the business posted $1.53 earnings per share. On average, sell-side analysts predict that Principal Financial Group will post 6.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Thursday, June 2nd will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, June 1st. Principal Financial Group’s dividend payout ratio is currently 43.91%.
Principal Financial Group Company Profile (Get Rating)
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 Global Investors, Principal International, and U.S. Insurance Solutions segments.
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