Today: The Principal Financial Group Inc. (PFG) Announces Quarterly Earnings Results

The Principal Financial Group Inc. (PFG) Announces Quarterly  Earnings Results

Principal Financial Group Inc. (NYSE:PFG) issued its quarterly earnings data on Thursday. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Principal Financial Group had a return on equity of 12.34% and a net margin of 10.63%. During the same quarter last year, the firm posted $1.06 earnings per share.

Shares of Principal Financial Group (NYSE:PFG) opened at 55.27 on Monday. The firm’s 50-day moving average price is $51.26 and its 200 day moving average price is $45.91. The company has a market cap of $15.90 billion, a P/E ratio of 13.14 and a beta of 1.66. Principal Financial Group has a 52 week low of $33.09 and a 52 week high of $56.32.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 27th. Shareholders of record on Monday, December 5th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, December 1st. This represents a $1.72 annualized dividend and a yield of 3.11%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.41. Principal Financial Group’s payout ratio is presently 38.41%.

In related news, EVP Timothy Mark Dunbar sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $52.00, for a total transaction of $260,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Karen E. Shaff sold 12,832 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $55.00, for a total value of $705,760.00. The disclosure for this sale can be found here. Corporate insiders own 1.78% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Washington Trust Bank raised 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 valued at $140,000 after buying an additional 25 shares in the last quarter. Signaturefd LLC raised its position in shares of Principal Financial Group by 0.8% in the second quarter. Signaturefd LLC now owns 6,197 shares of the company’s stock valued at $255,000 after buying an additional 50 shares in the last quarter. Capital Investment Advisors LLC raised its position in shares of Principal Financial Group by 1.4% in the third quarter. Capital Investment Advisors LLC now owns 9,488 shares of the company’s stock valued at $489,000 after buying an additional 127 shares in the last quarter. World Asset Management Inc raised its position in shares of Principal Financial Group by 0.7% in the second quarter. World Asset Management Inc now owns 26,686 shares of the company’s stock valued at $1,097,000 after buying an additional 174 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its position in shares of Principal Financial Group by 0.6% in the second quarter. Commonwealth Bank of Australia now owns 37,699 shares of the company’s stock valued at $1,550,000 after buying an additional 226 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on PFG shares. Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. RBC Capital Markets set a $52.00 price objective on Principal Financial Group and gave the company a “buy” rating in a research note on Friday, August 19th. Credit Suisse Group AG started coverage on Principal Financial Group in a research note on Friday, October 7th. They set an “underperform” rating and a $53.00 price objective for the company. Wells Fargo & Co. restated an “outperform” rating on shares of Principal Financial Group in a research note on Friday, September 23rd. Finally, Stifel Nicolaus upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Sunday, July 31st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $49.00.

Principal Financial Group Company Profile

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