Principal Financial Group (NASDAQ:PFG) Issues Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Principal Financial Group (NASDAQ:PFG) released its earnings results on Monday. The company reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.24), Zacks reports. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.

Principal Financial Group Price Performance

NASDAQ PFG traded up $1.56 on Monday, reaching $110.13. The company had a trading volume of 1,331,836 shares, compared to its average volume of 1,447,779. The stock has a market capitalization of $23.58 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. Principal Financial Group has a 12 month low of $79.48 and a 12 month high of $121.18. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average price is $112.27 and its 200 day moving average price is $108.19.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PFG shares. Atlantic Securities set a $94.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 15th. Piper Sandler increased their price target on Principal Financial Group from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. UBS Group raised their price target on Principal Financial Group from $98.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 10th. Morgan Stanley boosted their price objective on Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Finally, Jefferies Financial Group upped their price objective on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Principal Financial Group has an average rating of “Hold” and an average price target of $108.67.

About Principal Financial Group

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.