Principal Financial Group (NYSE:PFG) Coverage Initiated by Analysts at Barclays

Barclays initiated coverage on shares of Principal Financial Group (NYSE:PFG) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage issued an underweight rating and a $74.00 price objective on the stock.

A number of other research analysts have also commented on the company. Citigroup upped their target price on Principal Financial Group from $68.00 to $70.00 and gave the company a sell rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a market perform rating for the company in a report on Tuesday, July 30th. Morgan Stanley dropped their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an equal weight rating for the company in a research report on Monday, August 19th. Bank of America lifted their price objective on Principal Financial Group from $87.00 to $94.00 and gave the company a neutral rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada increased their target price on Principal Financial Group from $83.00 to $87.00 and gave the stock a sector perform rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $85.50.

Principal Financial Group Stock Performance

NYSE PFG opened at $77.53 on Wednesday. The company’s fifty day moving average is $79.91 and its two-hundred day moving average is $80.88. The firm has a market capitalization of $18.17 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. Principal Financial Group has a 52-week low of $66.21 and a 52-week high of $88.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Equities research analysts forecast that Principal Financial Group will post 7.31 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.71%. Principal Financial Group’s dividend payout ratio (DPR) is 54.96%.

Institutional Investors Weigh In On Principal Financial Group

A number of hedge funds have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group during the second quarter worth approximately $26,000. Spire Wealth Management lifted its holdings in Principal Financial Group by 152.0% during the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after buying an additional 225 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Principal Financial Group in the 2nd quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at $33,000. Finally, Family Firm Inc. bought a new stake in shares of Principal Financial Group during the second quarter worth $33,000. Institutional investors own 75.08% of the company’s stock.

About Principal Financial Group

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.