Principal Financial Group (NYSE:PFG) Issues FY24 Earnings Guidance

Principal Financial Group (NYSE:PFGGet Free Report) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $7.14-7.34 for the period, compared to the consensus EPS estimate of $7.51.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their target price on Principal Financial Group from $78.00 to $72.00 and set an equal weight rating for the company in a research note on Tuesday, October 17th. Piper Sandler decreased their target price on Principal Financial Group from $80.00 to $74.00 and set a neutral rating for the company in a research note on Monday, October 30th. Evercore ISI raised Principal Financial Group from an underperform rating to an inline rating and upped their price objective for the stock from $82.00 to $83.00 in a research report on Thursday, January 4th. Citigroup reduced their price objective on Principal Financial Group from $64.00 to $62.00 and set a sell rating for the company in a research report on Tuesday, October 24th. Finally, Morgan Stanley upped their price objective on Principal Financial Group from $71.00 to $72.00 and gave the stock an underweight rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $75.00.

Get Our Latest Analysis on Principal Financial Group

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $78.94 on Tuesday. The stock has a 50 day moving average price of $78.44 and a 200 day moving average price of $75.22. Principal Financial Group has a 52 week low of $65.17 and a 52 week high of $93.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $18.82 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25.

Principal Financial Group (NYSE:PFGGet Free Report) last issued its quarterly earnings results on Monday, February 12th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.69 by $0.14. Principal Financial Group had a return on equity of 15.30% and a net margin of 10.54%. During the same quarter in the previous year, the firm earned $1.70 earnings per share. Analysts predict that Principal Financial Group will post 6.43 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th will be paid a $0.69 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a yield of 3.50%. Principal Financial Group’s dividend payout ratio is currently 44.15%.

Institutional Trading of Principal Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of PFG. ICA Group Wealth Management LLC lifted its holdings in Principal Financial Group by 100.0% during the 1st quarter. ICA Group Wealth Management LLC now owns 400 shares of the company’s stock worth $30,000 after purchasing an additional 200 shares during the last quarter. Clear Street Markets LLC lifted its holdings in Principal Financial Group by 96.1% during the 1st quarter. Clear Street Markets LLC now owns 449 shares of the company’s stock worth $33,000 after purchasing an additional 220 shares during the last quarter. Point72 Middle East FZE acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $39,000. Fairfield Bush & CO. acquired a new stake in Principal Financial Group during the 1st quarter worth approximately $51,000. Finally, Money Concepts Capital Corp lifted its holdings in Principal Financial Group by 1,105.2% during the 4th quarter. Money Concepts Capital Corp now owns 1,169 shares of the company’s stock worth $98,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors own 70.68% of the company’s stock.

Principal Financial Group Company Profile

(Get Free Report)

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

Further Reading

Earnings History and Estimates for Principal Financial Group (NYSE:PFG)

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