Principal Financial Group (NYSE:PFG) Stock Price Expected to Rise, Barclays Analyst Says

Principal Financial Group (NYSE:PFG) had its target price increased by Barclays from $77.00 to $80.00 in a research note released on Friday,Benzinga reports. Barclays currently has an underweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a research note on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Principal Financial Group from $75.00 to $69.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Bank of America dropped their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and an average target price of $85.15.

Principal Financial Group Stock Performance

PFG stock opened at $82.33 on Friday. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.79 and a beta of 1.22. The business’s fifty day simple moving average is $80.14 and its two-hundred day simple moving average is $82.09. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, March 12th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 3.64%. Principal Financial Group’s payout ratio is currently 43.71%.

Institutional Trading of Principal Financial Group

A number of institutional investors have recently modified their holdings of PFG. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the third quarter valued at approximately $33,000. BankPlus Trust Department acquired a new position in shares of Principal Financial Group during the fourth quarter worth $33,000. Truvestments Capital LLC purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at $43,000. Sugarloaf Wealth Management LLC boosted its position in shares of Principal Financial Group by 53.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Principal Financial Group during the 3rd quarter worth $45,000. 75.08% of the stock is currently owned by 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.