Principal Financial Group, Inc. (NASDAQ:PFG) Expected to Post Q2 2022 Earnings of $1.50 Per Share

Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) – Equities researchers at Jefferies Financial Group raised their Q2 2022 EPS estimates for shares of Principal Financial Group in a research note issued on Sunday, June 5th. Jefferies Financial Group analyst S. Kamath now forecasts that the company will post earnings per share of $1.50 for the quarter, up from their prior estimate of $1.48. Jefferies Financial Group also issued estimates for Principal Financial Group’s Q3 2022 earnings at $1.68 EPS, Q4 2022 earnings at $1.75 EPS, FY2022 earnings at $6.55 EPS, Q1 2023 earnings at $1.76 EPS, Q2 2023 earnings at $1.88 EPS, Q3 2023 earnings at $1.91 EPS, Q4 2023 earnings at $1.94 EPS, FY2023 earnings at $7.50 EPS, FY2024 earnings at $8.15 EPS, FY2025 earnings at $8.80 EPS and FY2026 earnings at $9.50 EPS.

Other research analysts also recently issued research reports about the stock. 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 report on Wednesday, February 9th. Citigroup assumed coverage on shares of Principal Financial Group in a research report on Monday, May 23rd. They issued a “sell” rating and a $63.00 price target on the stock. Royal Bank of Canada decreased their price objective on Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating for the company in a report on Thursday, March 3rd. Piper Sandler raised their target price on Principal Financial Group from $76.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, April 6th. Finally, Morgan Stanley decreased their price target on Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, March 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.33.

Shares of PFG opened at $72.20 on Wednesday. Principal Financial Group has a one year low of $58.66 and a one year high of $80.36. The company has a market cap of $18.24 billion, a PE ratio of 12.38, a P/E/G ratio of 1.34 and a beta of 1.46. The stock has a 50-day moving average of $71.87 and a 200-day moving average of $71.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.10 and a quick ratio of 0.10.

Principal Financial Group (NASDAQ:PFGGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.12. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.57 billion. Principal Financial Group had a return on equity of 12.25% and a net margin of 11.08%. During the same period in the previous year, the firm earned $1.53 earnings per share.

Institutional investors have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in Principal Financial Group in the first quarter worth approximately $29,000. MCF Advisors LLC bought a new position in shares of Principal Financial Group during the first quarter valued at about $32,000. Allegheny Financial Group LTD purchased a new position in shares of Principal Financial Group in the fourth quarter worth about $33,000. Mystic Asset Management Inc. bought a new stake in shares of Principal Financial Group in the 4th quarter valued at about $35,000. Finally, Clearview Wealth Advisors LLC purchased a new stake in Principal Financial Group during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 77.69% of the company’s stock.

In other news, EVP Wee Yee Cheong sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the transaction, the executive vice president now directly owns 37,093 shares in the company, valued at $2,633,603. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is owned by insiders.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Thursday, June 2nd will be paid a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $2.56 annualized dividend and a yield of 3.55%. Principal Financial Group’s dividend payout ratio is currently 43.91%.

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

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