Principal Financial Group (NASDAQ:PFG) Sets New 1-Year High – Should You Buy?

Shares of Principal Financial Group, Inc. (NASDAQ:PFG) hit a new 52-week high on Thursday . The stock traded as high as $98.44 and last traded at $97.8950, with a volume of 95493 shares. The stock had previously closed at $97.43.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PFG. Wells Fargo & Company reduced their target price on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a report on Friday, April 10th. Barclays reissued an “underweight” rating on shares of Principal Financial Group in a research report on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $103.00 price objective on shares of Principal Financial Group in a report on Monday, January 5th. Weiss Ratings raised shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, Bank of America reduced their price target on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $93.44.

Principal Financial Group Stock Up 0.3%

The firm has a market cap of $21.17 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 0.87 and a beta of 0.87. The stock has a 50-day moving average of $91.40 and a 200-day moving average of $88.53. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The company had revenue of $4.58 billion during the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%. As a group, sell-side analysts forecast that Principal Financial Group, Inc. will post 9.4 EPS for the current fiscal year.

Principal Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Wednesday, March 11th were paid a $0.80 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. Principal Financial Group’s dividend payout ratio (DPR) is presently 60.72%.

Insider Buying and Selling at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $95.00, for a total transaction of $697,300.00. Following the completion of the transaction, the chief executive officer directly owned 136,828 shares in the company, valued at approximately $12,998,660. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.08% of the company’s stock.

Institutional Trading of Principal Financial Group

Several hedge funds have recently added to or reduced their stakes in PFG. Capital Management Corp VA raised its position in shares of Principal Financial Group by 19.2% during the 3rd quarter. Capital Management Corp VA now owns 172,736 shares of the company’s stock worth $14,322,000 after buying an additional 27,857 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Principal Financial Group by 160.3% during the third quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock valued at $3,978,000 after acquiring an additional 30,118 shares during the period. Mediolanum International Funds Ltd raised its holdings in Principal Financial Group by 41.5% during the third quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock worth $10,504,000 after purchasing an additional 37,357 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Principal Financial Group in the third quarter worth approximately $18,526,000. Finally, Teacher Retirement System of Texas lifted its position in Principal Financial Group by 21.1% in the third quarter. Teacher Retirement System of Texas now owns 215,843 shares of the company’s stock worth $17,896,000 after purchasing an additional 37,676 shares during the period. Institutional investors own 75.08% of the company’s stock.

About Principal Financial Group

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.