Many investors have changed their positions in Principal Financial Group (PFG). Clarity Asset Management bought shares worth around $95,000 in Q4. V Square Quantitative Management increased its holdings by 25.2%, owning 5,357 shares valued at $421,000 after adding 1,079 shares. Syon Capital raised its stake by 36.2%, owning 5,487 shares worth $432,000 after buying 1,457 shares. Goldman Sachs increased its holdings by 10.2%, now owning 2.16 million shares worth about $169.7 million. Fortis Group Advisors doubled its stake to 916 shares worth $72,000. Institutional investors own 75.08% of the stock.
Principal Financial Group Stock Flat
PFG opened at $87.48. Its 50-day moving average is $80.63, and the 200-day average is $81.36. The stock has a one-year low of $66.21 and a high of $88.26, with a market cap of $20.5 billion, PE ratio of 16.69, and a beta of 1.19. Current and quick ratios are both 0.29, and the debt-to-equity ratio is 0.36.
Principal Financial Group reported $1.63 earnings per share (EPS) for the last quarter, missing estimates of $1.87 by $0.24. Revenue was $4.31 billion, exceeding estimates of $3.78 billion. Analysts expect EPS to be $7.3 this year.
Dividend Increase
The company declared a quarterly dividend of $0.72, payable on September 27, up from $0.71. This equates to an annual dividend of $2.88 and a yield of 3.29%. The dividend payout ratio is currently 54.96%.
Analyst Ratings
JPMorgan upgraded PFG from “underweight” to “neutral,” raising the target from $88.00 to $96.00. Citigroup raised its target from $68.00 to $70.00 with a “sell” rating. Wells Fargo increased its target from $85.00 to $86.00 with an “equal weight” rating. Keefe, Bruyette & Woods lowered its target from $88.00 to $86.00 with a “market perform” rating. Jefferies raised its target price from $73.00 to $76.00 with a “hold” rating. The consensus rating is “Hold” with an average target of $85.42.
Company Overview
Principal Financial Group offers retirement, asset management, and insurance services globally through various segments, including Retirement and Income Solutions and Principal Asset Management.
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