Principal Financial Group Inc (PFG) Set to Announce Quarterly Earnings on Thursday
Principal Financial Group Inc (NYSE:PFG) is scheduled to announce its earnings results after the market closes on Thursday, October 26th. Analysts expect the company to announce earnings of $1.26 per share for the quarter.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates 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 earned $1.15 earnings per share. On average, analysts expect Principal Financial Group to post $5.19 EPS for the current fiscal year and $5.51 EPS for the next fiscal year.
Shares of Principal Financial Group Inc (NYSE:PFG) opened at 67.90 on Thursday. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 15.43 and a beta of 1.67. Principal Financial Group Inc has a 52-week low of $52.08 and a 52-week high of $68.01. The stock has a 50 day moving average price of $64.15 and a 200-day moving average price of $64.15.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a dividend of $0.47 per share. 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 2.77%. The ex-dividend date of this dividend was Wednesday, August 30th. Principal Financial Group’s payout ratio is currently 42.73%.
Several brokerages have weighed in on PFG. Wells Fargo & Company set a $76.00 price target on Principal Financial Group and gave the company a “buy” rating in a report on Wednesday. Goldman Sachs Group, Inc. (The) began coverage on Principal Financial Group in a report on Wednesday. They issued a “neutral” rating and a $70.00 price target for the company. Morgan Stanley boosted their price target on Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target for the company in a report on Monday, October 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $74.00 price target on shares of Principal Financial Group in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $67.40.
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In other news, insider James P. Mccaughan sold 6,193 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $62.33, for a total transaction of $386,009.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gary P. Scholten sold 13,495 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $67.00, for a total transaction of $904,165.00. The disclosure for this sale can be found here. Insiders have sold a total of 150,272 shares of company stock valued at $9,696,407 over the last three months. Corporate 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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