Recently, several research firms have updated their ratings on Principal Financial Group (PFG). JPMorgan upgraded the stock from “underweight” to “neutral” with a price target increased from $88 to $96. Royal Bank of Canada raised their target from $83 to $87 and assigned a “sector perform” rating. Jefferies Financial increased their target from $73 to $76 with a “hold” rating. Raymond James upgraded from “market perform” to “strong buy,” setting a target of $99. Citigroup raised their target from $68 to $70 but kept a “sell” rating. Overall, two analysts rate it as a sell, nine as hold, and one as strong buy, giving an average rating of “Hold” with a price target of $85.42.
Get Our Latest Stock Report on PFG
Institutional Inflows and Outflows
Institutional investors have been active recently. Clarity Asset Management bought a new stake worth $95,000. V Square raised their holdings by 25.2% to 5,357 shares valued at $421,000. Syon Capital increased theirs by 36.2% to 5,487 shares valued at $432,000. Goldman Sachs grew its position by 10.2%, owning 2.16 million shares valued at $169.7 million. Fortis Group doubled their stake to 916 shares worth $72,000. Institutional investors own 75.08% of the stock.
Principal Financial Group Stock Up 2.0%
PFG has a 50-day moving average of $80.79 and a 200-day average of $81.40. It has a market cap of $20.66 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.92, and a beta of 1.19. The current ratio and quick ratio stand at 0.29, with a debt-to-equity ratio of 0.36. PFG’s latest earnings report showed an EPS of $1.63, missing estimates of $1.87, but had revenue of $4.31 billion, exceeding expectations of $3.78 billion. Analysts predict an EPS of 7.31 for the current fiscal year.
Principal Financial Group Increases Dividend
PFG declared a quarterly dividend of $0.72, up from $0.71, paid on September 27th to shareholders recorded on September 5th. This gives an annualized yield of 3.23% with a payout ratio of 55.92%.
Principal Financial Group Company Profile
PFG offers retirement, asset management, and insurance services to various clients globally, organized into three segments: Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection.
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