Principal Financial Group (PFG) Scheduled to Post Quarterly Earnings on Thursday

Principal Financial Group (NYSE:PFG) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.80 per share for the quarter. Principal Financial Group has set its FY24 guidance at $7.14-7.34 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, February 12th. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.13. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3.53 billion. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. During the same period in the prior year, the firm earned $1.70 EPS. On average, analysts expect Principal Financial Group to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Principal Financial Group Price Performance

NYSE:PFG opened at $81.51 on Wednesday. The stock has a market cap of $19.17 billion, a P/E ratio of 33.27, a PEG ratio of 0.85 and a beta of 1.25. Principal Financial Group has a one year low of $65.17 and a one year high of $86.79. The company has a fifty day moving average price of $81.73 and a 200 day moving average price of $77.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group announced that its board has authorized a stock buyback program on Monday, February 12th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 12th were paid a $0.69 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date was Monday, March 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.39%. Principal Financial Group’s dividend payout ratio is currently 112.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PFG shares. Evercore ISI upped their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Piper Sandler upped their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Royal Bank of Canada increased their price objective on shares of Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley increased their price objective on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $80.64.

About Principal Financial Group

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.