Wells Fargo & Company Issues Positive Forecast for Principal Financial Group (NYSE:PFG) Stock Price

Principal Financial Group (NYSE:PFG) had its price target upped by Wells Fargo & Company from $69.00 to $74.00 in a research report report published on Wednesday,Benzinga reports. They currently have an underweight rating on the stock.

PFG has been the subject of a number of other research reports. Barclays lifted their target price on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, February 7th. Morgan Stanley restated an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Finally, BMO Capital Markets assumed coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price objective for the company. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.92.

Principal Financial Group Stock Performance

NYSE:PFG opened at $86.19 on Wednesday. Principal Financial Group has a 1 year low of $72.21 and a 1 year high of $91.97. The firm has a 50 day moving average of $80.43 and a 200-day moving average of $82.31. The company has a current ratio of 0.26, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $19.71 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. Principal Financial Group’s payout ratio is currently 43.71%.

Institutional Trading of Principal Financial Group

Institutional investors have recently bought and sold shares of the business. AMF Tjanstepension AB grew its holdings in shares of Principal Financial Group by 28.7% in the 3rd quarter. AMF Tjanstepension AB now owns 290,723 shares of the company’s stock valued at $24,997,000 after buying an additional 64,915 shares during the period. Blue Trust Inc. grew its holdings in shares of Principal Financial Group by 76.8% in the 3rd quarter. Blue Trust Inc. now owns 2,748 shares of the company’s stock valued at $216,000 after buying an additional 1,194 shares during the period. Raymond James & Associates grew its holdings in shares of Principal Financial Group by 36.3% in the 3rd quarter. Raymond James & Associates now owns 116,364 shares of the company’s stock valued at $9,996,000 after buying an additional 30,973 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Principal Financial Group by 6,593.7% in the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after buying an additional 130,225 shares during the period. Finally, Impact Partnership Wealth LLC grew its holdings in shares of Principal Financial Group by 25.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 7,720 shares of the company’s stock valued at $663,000 after buying an additional 1,576 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

About Principal Financial Group

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.