Principal Financial Group (NYSE:PFG) Price Target Raised to $93.00 at UBS Group

Principal Financial Group (NYSE:PFG) had its price objective raised by UBS Group from $87.00 to $93.00 in a report published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other brokerages also recently issued reports on PFG. Royal Bank of Canada restated a “sector perform” rating and set a $91.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 16th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Barclays upped their price objective on Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.57.

Principal Financial Group Price Performance

NYSE:PFG opened at $86.19 on Wednesday. The firm’s fifty day moving average price is $84.35 and its two-hundred day moving average price is $83.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market cap of $19.44 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.76 and a beta of 1.17. Principal Financial Group has a one year low of $72.21 and a one year high of $91.98.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Wednesday, March 12th were given a dividend of $0.75 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 annualized dividend and a dividend yield of 3.48%. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Principal Financial Group by 3.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,071 shares of the company’s stock valued at $2,560,000 after purchasing an additional 1,150 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in Principal Financial Group in the fourth quarter valued at about $4,261,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Principal Financial Group during the fourth quarter worth about $7,891,000. Brooklyn FI LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $307,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $37,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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.