According to Zacks, “Principal Financial’s focus on fee-based revenue sources has been helping it to earn steadily, and limits exposure to the interest rate environment. Annuity and insurance business also offer sustained earnings growth. The company’s inorganic story remains impressive with buyouts strengthening its international footprint. It also remains focused on effective capital deployment to enhance shareholder value. However, the company’s investment results will likely be hurt by a soft interest rate environment, restricting any major improvement. Escalating expenses pose concerns. The compnay is set to release third quarter results on Oct 27. However, our proven model cannot conclusively state if it will beat earnings because though Zacks Rank #3 increases the predictive power of a beat, combined with Earnings ESP of 0.00% makes prediction difficult. Nonetheless, the Zacks Consensus Estimate is pegged at $1.11, up 4.72% year over year.”
A number of other equities research analysts have also recently commented on PFG. Bank of America Corp. cut Principal Financial Group from a buy rating to a neutral rating in a research note on Wednesday, June 29th. Evercore ISI initiated coverage on Principal Financial Group in a research note on Wednesday, July 6th. They issued a buy rating and a $48.00 price objective on the stock. Deutsche Bank AG lowered their price objective on Principal Financial Group from $46.00 to $43.00 and set a hold rating on the stock in a research note on Thursday, July 7th. Barclays PLC boosted their price objective on Principal Financial Group from $41.00 to $47.00 and gave the company an equal weight rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. restated a sell rating and issued a $46.00 price objective on shares of Principal Financial Group in a research note on Friday, July 29th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $48.73.
Principal Financial Group (NYSE:PFG) traded up 0.62% during midday trading on Thursday, hitting $52.33. 310,155 shares of the stock were exchanged. The company has a market capitalization of $15.05 billion, a P/E ratio of 12.44 and a beta of 1.66. Principal Financial Group has a 1-year low of $33.09 and a 1-year high of $53.11. The company’s 50 day moving average is $50.03 and its 200 day moving average is $44.84.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 28th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same quarter in the previous year, the business posted $1.09 EPS. Analysts predict that Principal Financial Group will post $4.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.41 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $1.64 annualized dividend and a yield of 3.15%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.39. Principal Financial Group’s dividend payout ratio is currently 38.86%.
In other Principal Financial Group news, EVP Timothy Mark Dunbar sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $52.00, for a total value of $260,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.78% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Americafirst Capital Management LLC bought a new stake in shares of Principal Financial Group during the second quarter valued at $100,000. Acrospire Investment Management LLC increased its position in shares of Principal Financial Group by 17.4% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock worth $111,000 after buying an additional 400 shares in the last quarter. Cascade Investment Advisors Inc. acquired a new position in shares of Principal Financial Group during the second quarter worth approximately $121,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Principal Financial Group by 17.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,248 shares of the company’s stock worth $133,000 after buying an additional 488 shares in the last quarter. Finally, Washington Trust Bank increased its position in shares of Principal Financial Group by 0.9% in the third quarter. Washington Trust Bank now owns 2,721 shares of the company’s stock worth $140,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 67.13% 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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.
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