Principal Financial Group (NYSE:PFG) Trading Up 2.9%

Principal Financial Group, Inc. (NYSE:PFGGet Free Report)’s share price traded up 2.9% during trading on Tuesday . The stock traded as high as $80.88 and last traded at $80.75. 70,503 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,084,249 shares. The stock had previously closed at $78.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wells Fargo & Company dropped their target price on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Evercore ISI boosted their price target on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Jefferies Financial Group boosted their price target on Principal Financial Group from $74.00 to $78.00 and gave the company a “hold” rating in a report on Friday, June 28th. Finally, Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.09.

Check Out Our Latest Stock Analysis on PFG

Principal Financial Group Stock Performance

The stock has a market cap of $19.11 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $80.73 and a two-hundred day moving average price of $80.60.

Principal Financial Group (NYSE:PFGGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the company posted $1.48 earnings per share. On average, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.44 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Monday, June 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a yield of 3.48%. Principal Financial Group’s dividend payout ratio is presently 54.20%.

Institutional Investors Weigh In On Principal Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance raised its holdings in shares of Principal Financial Group by 11.4% in the fourth quarter. Independent Advisor Alliance now owns 5,130 shares of the company’s stock worth $404,000 after buying an additional 524 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Principal Financial Group by 12.3% in the fourth quarter. Hsbc Holdings PLC now owns 1,360,338 shares of the company’s stock worth $107,030,000 after purchasing an additional 149,353 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Principal Financial Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,311,223 shares of the company’s stock worth $103,154,000 after buying an additional 29,462 shares during the period. Comerica Bank bought a new stake in Principal Financial Group during the 3rd quarter valued at about $4,667,000. Finally, Jump Financial LLC purchased a new stake in Principal Financial Group in the 4th quarter valued at about $1,507,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

About Principal Financial Group

(Get Free Report)

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.

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