Principal Financial Group (NASDAQ:PFG) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Principal Financial Group (NASDAQ:PFGGet Rating) posted its quarterly earnings data on Monday. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.39 by $0.26, RTT News reports. Principal Financial Group had a return on equity of 12.25% and a net margin of 11.08%. During the same quarter last year, the company posted $1.70 earnings per share.

Principal Financial Group Trading Up 0.8 %

Shares of Principal Financial Group stock traded up $0.57 on Monday, hitting $68.79. The stock had a trading volume of 1,180,349 shares, compared to its average volume of 1,661,268. The stock has a 50 day moving average of $66.69 and a 200 day moving average of $69.90. Principal Financial Group has a twelve month low of $60.97 and a twelve month high of $80.36. The firm has a market capitalization of $17.38 billion, a P/E ratio of 11.79, a PEG ratio of 2.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.10 and a current ratio of 0.10.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 8th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 3.72%. Principal Financial Group’s dividend payout ratio (DPR) is presently 43.91%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Principal Financial Group from $72.00 to $69.00 in a research note on Monday, July 11th. Morgan Stanley decreased their price target on shares of Principal Financial Group from $72.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. Royal Bank of Canada reduced their target price on shares of Principal Financial Group from $79.00 to $70.00 in a report on Monday, July 11th. Piper Sandler dropped their target price on shares of Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, July 8th. Finally, Barclays dropped their target price on shares of Principal Financial Group from $85.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.40.

Insider Activity at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 10,000 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the sale, the executive vice president now directly owns 37,093 shares of the company’s stock, valued at approximately $2,633,603. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of Principal Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of PFG. Kinneret Advisory LLC lifted its holdings in Principal Financial Group by 2.3% in the first quarter. Kinneret Advisory LLC now owns 8,377 shares of the company’s stock valued at $615,000 after acquiring an additional 187 shares during the period. Prudential PLC bought a new position in shares of Principal Financial Group during the 1st quarter worth $510,000. Beacon Pointe Advisors LLC boosted its holdings in shares of Principal Financial Group by 73.2% in the 1st quarter. Beacon Pointe Advisors LLC now owns 6,472 shares of the company’s stock valued at $475,000 after buying an additional 2,735 shares in the last quarter. Equitable Holdings Inc. boosted its stake in Principal Financial Group by 42.4% in the 1st quarter. Equitable Holdings Inc. now owns 5,037 shares of the company’s stock worth $370,000 after purchasing an additional 1,501 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Principal Financial Group in the 1st quarter worth approximately $366,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Principal Financial Group Company Profile

(Get Rating)

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Earnings History for Principal Financial Group (NASDAQ:PFG)

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