Principal Financial Group (PFG) Earning Somewhat Positive News Coverage, Study Shows
Media stories about Principal Financial Group (NYSE:PFG) have trended somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Principal Financial Group earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave news coverage about the financial services provider an impact score of 45.8095043073299 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media stories that may have effected Accern’s analysis:
- Dimensional Fund Advisors Lp Sold A Little More Principal Financial Group Inc (PFG) Stock Last Quarter – Modern Readers (modernreaders.com)
- Principal Financial Group Inc Increases Its Position in Macquarie Infrastructure Compan (wisdomsave.com)
- The Principal Financial Group, Inc. breached its 50 day moving average in a Bearish Manner : PFG-US : August 11, 2017 (finance.yahoo.com)
- Principal Financial Group Inc (NYSE:PFG) Price Target Raised to $63.00 (americanbankingnews.com)
- Principal Financial Group Inc (NYSE:PFG) Receives Consensus Rating of “Hold” from Analysts (americanbankingnews.com)
Principal Financial Group (PFG) traded down 0.02% on Tuesday, hitting $65.00. The company’s stock had a trading volume of 945,813 shares. The firm has a 50 day moving average of $65.71 and a 200-day moving average of $63.52. Principal Financial Group has a 12 month low of $46.82 and a 12 month high of $67.73. The stock has a market cap of $18.78 billion, a PE ratio of 14.77 and a beta of 1.65.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same period in the prior year, the business posted $1.15 earnings per share. On average, analysts expect that Principal Financial Group will post $5.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a $0.47 dividend. The ex-dividend date is Wednesday, August 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a dividend yield of 2.89%. Principal Financial Group’s dividend payout ratio is 41.82%.
Principal Financial Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 17th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub lowered Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday. Deutsche Bank AG lifted their target price on Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Barclays PLC lifted their target price on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $61.67.
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In other news, insider Nora Mary Everett sold 8,700 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $63.52, for a total value of $552,624.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Mccaughan sold 65,818 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $63.53, for a total value of $4,181,417.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 345,538 shares of company stock valued at $22,435,450. Company insiders own 1.50% of the company’s stock.
About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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