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

Principal Financial Group (NASDAQ:PFG) announced its quarterly earnings results on Monday. The company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.24), Zacks reports. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same period last year, the company earned $2.32 earnings per share.

Principal Financial Group Stock Performance

Shares of NASDAQ:PFG opened at $110.13 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. Principal Financial Group has a 1 year low of $79.48 and a 1 year high of $121.18. The firm has a market capitalization of $23.58 billion, a PE ratio of 15.64, a P/E/G ratio of 1.05 and a beta of 0.86. The business’s 50 day moving average price is $112.21 and its 200-day moving average price is $102.95.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Wednesday, December 2nd will be paid a $0.85 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.84. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 2nd. Principal Financial Group’s dividend payout ratio is presently 47.73%.

Analyst Ratings Changes

Several research firms have commented on PFG. Barclays lowered their price objective on Principal Financial Group from $92.00 to $86.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 7th. Atlantic Securities set a $94.00 price objective on shares of Principal Financial Group in a research report on Wednesday, July 15th. Weiss Ratings raised Principal Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Piper Sandler increased their target price on Principal Financial Group from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $121.00 price target on shares of Principal Financial Group in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $108.67.

Principal Financial Group Company Profile

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.