Principal Financial Group (NASDAQ:PFG) Releases Earnings Results, Beats Estimates By $0.17 EPS

Principal Financial Group (NASDAQ:PFG) released its quarterly earnings data on Monday. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17, Zacks reports. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.

Principal Financial Group Stock Up 1.7%

Shares of NASDAQ PFG traded up $1.89 during trading on Monday, reaching $111.29. 2,434,116 shares of the stock were exchanged, compared to its average volume of 1,518,394. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88. The business’s 50-day moving average price is $108.14 and its 200 day moving average price is $98.43. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group has a twelve month low of $75.00 and a twelve month high of $114.90.

Wall Street Analyst Weigh In

Several research analysts recently commented on PFG shares. Evercore set a $108.00 price target on shares of Principal Financial Group in a report on Monday, April 27th. JPMorgan Chase & Co. increased their price objective on shares of Principal Financial Group from $101.00 to $106.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Jefferies Financial Group raised their target price on shares of Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a research note on Friday, July 10th. UBS Group lifted their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Morgan Stanley increased their price target on Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.00.

Insiders Place Their Bets

In related news, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total transaction of $777,207.44. Following the sale, the insider owned 66,443 shares of the company’s stock, valued at $6,854,259.88. The trade was a 10.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the completion of the transaction, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. This represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 28,317 shares of company stock valued at $2,884,902. Company insiders own 1.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PFG. DV Equities LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at approximately $25,000. FWL Investment Management LLC acquired a new stake in shares of Principal Financial Group during the third quarter worth approximately $32,000. MUFG Securities EMEA plc bought a new stake in shares of Principal Financial Group in the second quarter worth $49,000. Quarry LP bought a new stake in shares of Principal Financial Group in the fourth quarter worth $81,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at $86,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Company Profile

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.