Keefe, Bruyette & Woods Cuts Principal Financial Group (NYSE:PFG) Price Target to $90.00

Principal Financial Group (NYSE:PFG) had its target price cut by Keefe, Bruyette & Woods from $93.00 to $90.00 in a report published on Friday,Benzinga reports. They currently have a market perform rating on the stock.

PFG has been the subject of a number of other research reports. Bank of America dropped their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $95.00 to $92.00 in a report on Tuesday. Royal Bank of Canada lifted their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Barclays increased their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research report on Wednesday, December 18th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.75.

Principal Financial Group Trading Down 2.5 %

PFG opened at $76.34 on Friday. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of -84.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.22. The company’s 50 day simple moving average is $81.79 and its two-hundred day simple moving average is $82.13. Principal Financial Group has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the previous year, the business posted $1.72 EPS. Analysts expect that Principal Financial Group will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is currently -324.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PFG. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group during the 3rd quarter worth approximately $33,000. Truvestments Capital LLC purchased a new stake in shares of Principal Financial Group during the third quarter worth $43,000. Sugarloaf Wealth Management LLC increased its position in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after acquiring an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at $45,000. Finally, Capital Performance Advisors LLP purchased a new position in Principal Financial Group in the third quarter valued at $50,000. Institutional investors and hedge funds 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.