Principal Financial Group, Inc. (NASDAQ: PFG) Receives Consensus “Hold” Recommendation From Brokerages
Principal Financial Group, Inc. (NASDAQ: PFG) has achieved a consensus rating of “Hold” from the twelve brokerages that currently hedge the stock, reports Marketbeat.com. An equity research analyst rated the stock with a sell rating, seven assigned a conservation rating, and two assigned a buy rating to the company. The twelve-month average target price among analysts who hedged the stock in the past year is $ 65.64.
Several brokerage firms have recently weighed on PFG. Piper Sandler lowered her price target on Principal Financial Group from $ 69.00 to $ 67.00 and set a “neutral” rating for the company in a report released Thursday, July 8. They noted that the move was an appraisal call. Royal Bank of Canada raised its target price on Principal Financial Group shares from $ 66.00 to $ 67.00 and assigned the stock a “sector performance” rating in a research note on Thursday, July 29. . increased its price target on Principal Financial Group from $ 62.00 to $ 64.00 and rated the stock “neutral” in a research note on Monday, June 21. Credit Suisse Group Upgraded Principal Financial Group from a ‘Neutral’ to an ‘Outperforming’ Rating and Raised its Price Target for the Company from $ 57.00 to $ 82.00 in a Report Released Tuesday, July 6 . Finally, Morgan Stanley raised its price target on Principal Financial Group from $ 70.00 to $ 71.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 15.
Shares of Principal Financial Group opened at $ 66.65 on Wednesday. Principal Financial Group has a one-year minimum of $ 37.50 and a one-year maximum of $ 68.40. The company has a debt ratio of 0.26, a quick ratio of 0.06, and a current ratio of 0.06. The company has a market cap of $ 17.89 billion, a price / earnings ratio of 11.61, a PEG ratio of 0.66 and a beta of 1.62. The company’s 50-day mobile average price is $ 65.17, and its 200-day mobile average price is $ 63.84.
Principal Financial Group (NASDAQ: PFG) last released its quarterly results on Tuesday, July 27. The company reported earnings per share (EPS) of $ 1.70 for the quarter, beating Thomson Reuters’ consensus estimate of $ 1.53 by $ 0.17. Principal Financial Group had a net margin of 11.48% and a return on equity of 9.58%. The company posted revenue of $ 3.61 billion in the quarter, compared to a consensus estimate of $ 3.71 billion. In the same quarter of the previous year, the company achieved earnings per share of $ 1.46. On average, analysts predict that Principal Financial Group will post 6.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 24. Shareholders of record on Wednesday September 1 received a dividend of $ 0.63. The ex-dividend date of this dividend was Tuesday August 31. This is an increase from Principal Financial Group’s previous quarterly dividend of $ 0.61. This represents a dividend of $ 2.52 on an annualized basis and a dividend yield of 3.78%. Principal Financial Group’s dividend payout ratio is currently 51.01%.
Large investors have recently increased or reduced their holdings in the stock. Bank of America Corp DE increased its position in shares of Principal Financial Group by 10.7% in the second quarter. Bank of America Corp DE now owns 1,400,765 shares of the company valued at $ 88,515,000 after acquiring an additional 135,619 shares during the last quarter. Sunflower Bank NA purchased a new position in Principal Financial Group shares in the second quarter valued at approximately $ 398,000. Parametric Portfolio Associates LLC increased its stake in Principal Financial Group by 1.4% in the second quarter. Parametric Portfolio Associates LLC now owns 1,405,692 shares of the company valued at $ 88,826,000 after acquiring an additional 19,658 shares during the period. Leelyn Smith LLC increased its stake in the shares of Principal Financial Group by 12,773.1% in the 2nd quarter. Leelyn Smith LLC now owns 30,123 shares of the company valued at $ 1,903,000 after acquiring an additional 29,889 shares during the last quarter. Finally, B. Metzler see. Sohn & Co. Holding AG increased its stake in the shares of Principal Financial Group by 11.3% in the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 8,287 shares of the company valued at $ 524,000 after purchasing 842 additional shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s shares.
About Principal Financial Group
Principal Financial Group, Inc. is a financial company providing financial products and services to businesses, individuals and institutional clients. She specializes in retirement solutions, insurance and investment products through her diverse family of financial services companies and her national network of financial professionals.
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