Analyst Price Forecast Suggests 12.87% Upside
As of August 31, 2023, the average one-year price target for Principal Financial Group Inc - Registered Shares is 79.25. The forecasts range from a low of 64.64 to a high of $91.35. The average price target represents an increase of 12.87% from its latest reported closing price of 70.21.
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The projected annual revenue for Principal Financial Group Inc - Registered Shares is 13,777MM, a decrease of 2.35%. The projected annual non-GAAP EPS is 7.13.
Principal Financial Group Inc - Registered Shares Declares $0.65 Dividend
On July 27, 2023 the company declared a regular quarterly dividend of $0.65 per share ($2.60 annualized). Shareholders of record as of September 7, 2023 received the payment on September 29, 2023. Previously, the company paid $0.64 per share.
At the current share price of $70.21 / share, the stock's dividend yield is 3.70%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.08%, the lowest has been 2.73%, and the highest has been 9.27%. The standard deviation of yields is 0.94 (n=236).
The current dividend yield is 0.41 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1344 funds or institutions reporting positions in Principal Financial Group Inc - Registered Shares. This is a decrease of 38 owner(s) or 2.75% in the last quarter. Average portfolio weight of all funds dedicated to PFG is 0.17%, a decrease of 12.99%. Total shares owned by institutions decreased in the last three months by 3.07% to 193,345K shares. The put/call ratio of PFG is 0.67, indicating a bullish outlook.
What are Other Shareholders Doing?
Nippon Life Insurance holds 18,137K shares representing 7.50% ownership of the company. No change in the last quarter.
Bank Of America holds 13,723K shares representing 5.68% ownership of the company. In it's prior filing, the firm reported owning 16,594K shares, representing a decrease of 20.92%. The firm increased its portfolio allocation in PFG by 237.66% over the last quarter.
Capital Research Global Investors holds 9,149K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 8,336K shares, representing an increase of 8.89%. The firm increased its portfolio allocation in PFG by 5.16% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,575K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 7,512K shares, representing an increase of 0.83%. The firm decreased its portfolio allocation in PFG by 5.06% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,627K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 5,678K shares, representing a decrease of 0.91%. The firm decreased its portfolio allocation in PFG by 2.92% over the last quarter.
Principal Financial Group Background Information
(This description is provided by the company.)
Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Its employees are passionate about helping clients of all income and portfolio sizes achieve their goals - offering innovative ideas, investment expertise and real-life solutions to make financial progress possible.
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