Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) – Equities researchers at Jefferies Financial Group decreased their Q4 2022 earnings per share estimates for shares of Principal Financial Group in a research note issued to investors on Sunday, April 10th. Jefferies Financial Group analyst S. Kamath now forecasts that the company will post earnings per share of $1.74 for the quarter, down from their prior estimate of $1.82. Jefferies Financial Group currently has a “Underperform” rating and a $62.00 price objective on the stock. Jefferies Financial Group also issued estimates for Principal Financial Group’s Q2 2023 earnings at $1.85 EPS, Q3 2023 earnings at $1.88 EPS, Q4 2023 earnings at $1.91 EPS, FY2023 earnings at $7.40 EPS, FY2024 earnings at $8.05 EPS, FY2025 earnings at $8.70 EPS and FY2026 earnings at $9.40 EPS.
A number of other research firms have also recently issued reports on PFG. Barclays upped their price objective on shares of Principal Financial Group from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 9th. Morgan Stanley reduced their target price on shares of Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, March 3rd. Royal Bank of Canada reduced their target price on shares of Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating on the stock in a report on Thursday, March 3rd. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $79.00 target price on the stock in a report on Thursday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Principal Financial Group from $71.00 to $72.00 in a report on Tuesday, January 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average target price of $74.27.
Principal Financial Group (NASDAQ:PFG – Get Rating) last released its quarterly earnings data on Monday, February 7th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.22. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Principal Financial Group had a net margin of 11.99% and a return on equity of 11.55%. During the same period in the prior year, the company earned $1.48 EPS.
The business also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Thursday, March 10th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.51%. Principal Financial Group’s dividend payout ratio is presently 40.83%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Principal Financial Group by 10.7% during the second quarter. Bank of America Corp DE now owns 1,400,765 shares of the company’s stock worth $88,515,000 after buying an additional 135,619 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in Principal Financial Group by 33.4% during the third quarter. Kestra Advisory Services LLC now owns 11,900 shares of the company’s stock worth $766,000 after buying an additional 2,977 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Principal Financial Group by 52.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 69,483 shares of the company’s stock worth $4,550,000 after buying an additional 23,991 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Principal Financial Group by 12.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 960,098 shares of the company’s stock worth $61,830,000 after buying an additional 110,022 shares during the last quarter. Finally, Eads & Heald Wealth Management raised its holdings in Principal Financial Group by 38.2% during the third quarter. Eads & Heald Wealth Management now owns 4,561 shares of the company’s stock worth $294,000 after buying an additional 1,260 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.
About Principal Financial Group (Get Rating)
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.
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