Recent ratings for Principal Financial Group (PFG) show mixed sentiments from analysts. On July 2, JPMorgan Chase upgraded the stock from “underweight” to “neutral” with a target price increase from $88 to $96. Royal Bank of Canada raised its target from $83 to $87 and rated it “sector perform.” Jefferies increased the target from $73 to $76, giving it a “hold” rating, while Raymond James upgraded to “strong buy” with a target of $99. Citigroup, however, increased their target from $68 to $70 but maintained a “sell” rating. Overall, there are two sell ratings, nine hold ratings, and one strong buy, leading to an average rating of “Hold” with a target price of $85.42.
Get Our Latest Stock Report on PFG
Institutional Inflows and Outflows
Institutional investors have been active recently. Clarity Asset Management acquired $95,000 in new shares. V Square Quantitative Management raised their holdings by 25.2%. Syon Capital increased theirs by 36.2%. Goldman Sachs grew its position by 10.2%, now owning over $169 million in shares. Fortis Group doubled their stake. Currently, institutions own 75.08% of the stock.
Principal Financial Group Stock Up 2.0%
PFG has a 50-day average of $80.79 and a 200-day average of $81.40. It has a market cap of $20.66 billion, a P/E ratio of 17.32, and a beta of 1.19. The latest earnings report showed an EPS of $1.63, below the expected $1.87. Revenue was $4.31 billion, surpassing predicted $3.78 billion. Analysts estimate an EPS of 7.31 for this fiscal year.
Principal Financial Group Increases Dividend
Recently, PFG declared a quarterly dividend of $0.72, up from $0.71, payable September 27 to shareholders on record September 5. This yields 3.23%, with an annual payout of $2.88 and a payout ratio of 55.92%.
Principal Financial Group Company Profile
Principal Financial Group, Inc offers retirement, asset management, and insurance services to businesses and individuals globally, operating via several segments, including Retirement and Income Solutions.
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