Weekly Investment Analysts’ Ratings Changes for Principal Financial Group (PFG)

Several brokerages have updated their recommendations and price targets on shares of Principal Financial Group (NYSE: PFG) in the last few weeks:

• 4/11/2024 – Principal Financial Group had its price target raised by analysts at Evercore ISI from $84.00 to $86.00. They now have an “in-line” rating on the stock.
• 4/11/2024 – Principal Financial Group had its price target raised by analysts at Wells Fargo & Company from $86.00 to $91.00. They now have an “equal weight” rating on the stock.
• 4/10/2024 – Principal Financial Group had its price target raised by analysts at Keefe, Bruyette & Woods from $85.00 to $89.00. They now have a “market perform” rating on the stock.
• 4/5/2024 – Principal Financial Group had its price target raised by analysts at Piper Sandler from $85.00 to $90.00. They now have a “neutral” rating on the stock.
• 2/16/2024 – Principal Financial Group had its price target raised by analysts at Keefe, Bruyette & Woods from $80.00 to $85.00. They now have a “market perform” rating on the stock.
• 2/14/2024 – Principal Financial Group had its price target raised by analysts at Royal Bank of Canada from $75.00 to $83.00. They now have a “sector perform” rating on the stock.
• 2/13/2024 – Principal Financial Group had its price target raised by analysts at Morgan Stanley from $72.00 to $75.00. They now have an “equal weight” rating on the stock.

Principal Financial Group Stock Performance

PFG opened at $80.25 on Friday. Principal Financial Group, Inc. has a 12-month low of $65.17 and a 12-month high of $86.79. The stock has a market cap of $18.93 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 1.05 and a beta of 1.25. The business has a 50 day moving average of $81.50 and a 200-day moving average of $76.76. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the firm posted $1.70 EPS. On average, equities research analysts expect that Principal Financial Group, Inc. will post 7.62 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Monday, March 11th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio is presently 112.65%.

Institutional Investors Weigh In On Principal Financial Group

Institutional investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. grew its position in shares of Principal Financial Group by 143.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 384 shares of the company’s stock valued at $27,000 after buying an additional 226 shares during the last quarter. Spire Wealth Management boosted its position in shares of Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. ICA Group Wealth Management LLC boosted its position in shares of Principal Financial Group by 100.0% during the 1st quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at about $31,000. Finally, Fortis Group Advisors LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $33,000. Institutional investors own 75.08% of the company’s stock.

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.