Principal Financial Group (NYSE:PFG) Price Target Cut to $69.00 by Analysts at Wells Fargo & Company

Principal Financial Group (NYSE:PFG) had its target price decreased by Wells Fargo & Company from $75.00 to $69.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other equities analysts also recently weighed in on PFG. Royal Bank of Canada lifted their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Barclays lifted their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Bank of America dropped their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 target price (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.25.

Principal Financial Group Stock Up 1.3 %

Shares of NYSE:PFG opened at $81.14 on Tuesday. The business has a 50-day moving average price of $81.52 and a 200 day moving average price of $82.14. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of -90.15, a PEG ratio of 0.75 and a beta of 1.22. Principal Financial Group has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the previous year, the business posted $1.72 earnings per share. Sell-side analysts expect that Principal Financial Group will post 7.01 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a dividend of $0.73 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.60%. Principal Financial Group’s payout ratio is presently -324.44%.

Institutional Investors Weigh In On Principal Financial Group

Several institutional investors have recently added to or reduced their stakes in PFG. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group during the third quarter worth approximately $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group during the third quarter worth approximately $43,000. Sugarloaf Wealth Management LLC lifted its stake in Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company’s stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Principal Financial Group during the third quarter worth approximately $45,000. Finally, Capital Performance Advisors LLP purchased a new stake in Principal Financial Group during the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.