Several research firms have recently analyzed Principal Financial Group (PFG). On July 2, JPMorgan upgraded the stock from “underweight” to “neutral,” raising the target price from $88 to $96. Royal Bank of Canada set their target at $87 from $83, rating it as “sector perform” on July 29. Jefferies raised their price target to $76, maintaining a “hold” rating on July 18. Raymond James upgraded the stock to “strong buy,” setting a target of $99 on July 9. Citigroup, however, lowered their target from $68 to $70, keeping a “sell” rating. Overall, 2 analysts rated it as “sell,” 9 as “hold,” and 1 as “strong buy.” The average rating is “Hold” with a price target of $85.42.
Get Our Latest Stock Report on PFG
Institutional Inflows and Outflows
Institutional investors are adjusting their holdings in PFG. Clarity Asset Management Inc. invested $95,000 in the fourth quarter. V Square Management increased its stake by 25.2%, owning 5,357 shares now valued at $421,000, while Syon Capital raised its holdings by 36.2%. Goldman Sachs grew its position by 10.2%, owning 2.16 million shares valued at around $170 million. Fortis Group doubled its stake to 916 shares worth $72,000. Institutional investors own 75.08% of PFG stock.
Principal Financial Group Stock Up 2.0%
PFG’s 50-day moving average is $80.79, and the 200-day average is $81.40. The market cap is $20.66 billion with a P/E ratio of 17.32. PFG reported earnings of $1.63 per share on July 25, missing estimates of $1.87. Their revenue was $4.31 billion, above estimates of $3.78 billion. Analysts predict PFG will earn $7.31 per share 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 27. The annual dividend is $2.88, with a yield of 3.23% and a payout ratio of 55.92%.
Principal Financial Group Company Profile
Principal Financial Group provides retirement, asset management, and insurance services globally, operating in Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments.
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