Analysts Expect Principal Financial Group Inc (PFG) Will Post Earnings of $1.28 Per Share
Analysts expect Principal Financial Group Inc (NYSE:PFG) to announce earnings of $1.28 per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Principal Financial Group’s earnings. The lowest EPS estimate is $1.26 and the highest is $1.31. Principal Financial Group reported earnings per share of $1.15 during the same quarter last year, which would suggest a positive year over year growth rate of 11.3%. The business is scheduled to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Principal Financial Group will report full-year earnings of $5.19 per share for the current fiscal year, with EPS estimates ranging from $5.15 to $5.25. For the next financial year, analysts anticipate that the company will report earnings of $5.49 per share, with EPS estimates ranging from $5.44 to $5.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Principal Financial Group.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.09. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned $1.15 EPS.
A number of research firms recently issued reports on PFG. Zacks Investment Research downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Deutsche Bank AG lifted their target price on Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $61.22.
Principal Financial Group (NYSE:PFG) traded down 0.36% during midday trading on Wednesday, reaching $65.99. The company’s stock had a trading volume of 924,906 shares. The firm has a market capitalization of $19.04 billion, a PE ratio of 15.00 and a beta of 1.65. The stock has a 50 day moving average of $65.45 and a 200 day moving average of $63.11. Principal Financial Group has a 52 week low of $46.40 and a 52 week high of $67.73.
Principal Financial Group declared that its board has approved a share repurchase program on Wednesday, May 17th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.85%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio (DPR) is presently 41.82%.
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In other news, EVP Gary P. Scholten sold 13,495 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total transaction of $904,165.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James P. Mccaughan sold 60,817 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $66.98, for a total value of $4,073,522.66. The disclosure for this sale can be found here. Insiders have sold 355,913 shares of company stock valued at $23,099,450 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. CENTRAL TRUST Co boosted its stake in shares of Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in shares of Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after buying an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Principal Financial Group during the first quarter worth about $202,000. Eagle Global Advisors LLC purchased a new stake in shares of Principal Financial Group during the second quarter worth about $207,000. Finally, Blair William & Co. IL purchased a new stake in shares of Principal Financial Group during the first quarter worth about $205,000. Institutional investors own 70.45% of the company’s stock.
Principal Financial Group Company Profile
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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