Principal Financial Group (NYSE:PFG) Sets New 12-Month Low After Analyst Downgrade

Principal Financial Group, Inc. (NYSE:PFG)’s share price reached a new 52-week low on Wednesday after Keefe, Bruyette & Woods lowered their price target on the stock from $88.00 to $86.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Principal Financial Group traded as low as $72.21 and last traded at $74.15, with a volume of 1769016 shares trading hands. The stock had previously closed at $74.59.

Other research analysts have also recently issued reports about the company. UBS Group decreased their price target on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company raised their target price on Principal Financial Group from $68.00 to $69.00 and gave the company an “underweight” rating in a report on Tuesday. BMO Capital Markets started coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research note on Thursday, January 16th. Finally, Barclays cut their target price on shares of Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $83.31.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC grew its holdings in Principal Financial Group by 46.3% during the first quarter. CWM LLC now owns 19,010 shares of the company’s stock worth $1,604,000 after acquiring an additional 6,017 shares during the period. Xponance Inc. boosted its position in shares of Principal Financial Group by 2.9% during the 1st quarter. Xponance Inc. now owns 107,653 shares of the company’s stock valued at $9,083,000 after purchasing an additional 3,006 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Principal Financial Group by 19.2% in the 1st quarter. Cerity Partners LLC now owns 34,782 shares of the company’s stock worth $2,935,000 after purchasing an additional 5,603 shares during the last quarter. Hunter Associates Investment Management LLC bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $202,000. Finally, Principal Securities Inc. lifted its stake in Principal Financial Group by 254.0% during the first quarter. Principal Securities Inc. now owns 10,384 shares of the company’s stock valued at $804,000 after purchasing an additional 7,451 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market capitalization of $16.66 billion, a P/E ratio of 11.09, a PEG ratio of 0.76 and a beta of 1.01. The stock’s fifty day moving average is $79.59 and its two-hundred day moving average is $81.81.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the previous year, the firm earned $1.65 EPS. As a group, research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 4.10%. Principal Financial Group’s dividend payout ratio is currently 65.10%.

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.