Principal Financial Group (NYSE:PFG) Earning Somewhat Favorable Press Coverage, Accern Reports
News articles about Principal Financial Group (NYSE:PFG) have been trending somewhat positive this week, according to Accern. Accern ranks the sentiment of media coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Principal Financial Group earned a daily sentiment score of 0.18 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 45.9819332295139 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
- Continental Resources, Inc. (CLR) Shares Sold by Principal Financial Group Inc (ismboard.com)
- See what the IHS Markit Score report has to say about Principal Financial Group Inc. (finance.yahoo.com)
- Principal Financial Group Inc (NYSE:PFG) Expected to Post Earnings of $1.28 Per Share (americanbankingnews.com)
- James P. Mccaughan Sells 60,817 Shares of Principal Financial Group Inc (PFG) Stock (americanbankingnews.com)
A number of research analysts have commented on PFG shares. Zacks Investment Research cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Deutsche Bank AG increased their price target on shares of Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Finally, BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $61.22.
Principal Financial Group (NYSE:PFG) traded down 2.36% during mid-day trading on Thursday, hitting $64.43. The stock had a trading volume of 1,023,176 shares. Principal Financial Group has a 12 month low of $46.40 and a 12 month high of $67.73. The stock has a market cap of $18.62 billion, a price-to-earnings ratio of 14.64 and a beta of 1.65. The stock’s 50-day moving average price is $65.52 and its 200-day moving average price is $63.30.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter in the previous year, the company posted $1.15 EPS. On average, analysts predict that Principal Financial Group will post $5.18 earnings per share for the current year.
Principal Financial Group declared that its board has authorized a stock buyback plan on Wednesday, May 17th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.92%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s payout ratio is currently 41.82%.
In other news, insider Nora Mary Everett sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $63.52, for a total transaction of $552,624.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gary P. Scholten sold 13,495 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $67.00, for a total value of $904,165.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 355,913 shares of company stock worth $23,099,450. Corporate insiders own 1.50% of the company’s stock.
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About Principal Financial Group
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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