Principal Financial Group, Inc. (NASDAQ:PFG) – Equities research analysts at Piper Sandler increased their Q2 2021 EPS estimates for Principal Financial Group in a research report issued on Wednesday, April 28th. Piper Sandler analyst J. Barnidge now expects that the company will earn $1.53 per share for the quarter, up from their prior estimate of $1.43. Piper Sandler also issued estimates for Principal Financial Group’s Q4 2021 earnings at $1.64 EPS and Q2 2022 earnings at $1.73 EPS.
PFG has been the subject of a number of other research reports. Morgan Stanley boosted their price target on Principal Financial Group from $67.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday. Royal Bank of Canada restated a “hold” rating and set a $52.00 price objective on shares of Principal Financial Group in a research note on Sunday, January 31st. JPMorgan Chase & Co. increased their price objective on Principal Financial Group from $55.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, April 5th. Barclays increased their target price on Principal Financial Group from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $63.00 price target on shares of Principal Financial Group in a research note on Monday, March 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $55.91.
PFG stock opened at $64.66 on Monday. The stock has a 50-day moving average price of $61.68 and a two-hundred day moving average price of $54.35. Principal Financial Group has a 12-month low of $30.74 and a 12-month high of $65.21. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.27. The company has a market cap of $17.59 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.64.
Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Tuesday, April 27th. The company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.18. Principal Financial Group had a return on equity of 9.22% and a net margin of 8.15%. During the same period in the prior year, the company earned $1.15 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of Principal Financial Group by 12.2% during the first quarter. Parallel Advisors LLC now owns 1,474 shares of the company’s stock worth $88,000 after purchasing an additional 160 shares in the last quarter. West Financial Advisors LLC boosted its stake in Principal Financial Group by 44.7% during the 1st quarter. West Financial Advisors LLC now owns 599 shares of the company’s stock valued at $36,000 after purchasing an additional 185 shares in the last quarter. Evolution Wealth Advisors LLC lifted its position in shares of Principal Financial Group by 35.2% during the 1st quarter. Evolution Wealth Advisors LLC now owns 711 shares of the company’s stock valued at $43,000 after acquiring an additional 185 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Principal Financial Group by 2.5% during the 4th quarter. Wetherby Asset Management Inc. now owns 7,634 shares of the company’s stock valued at $379,000 after acquiring an additional 186 shares during the last quarter. Finally, Berman Capital Advisors LLC lifted its position in shares of Principal Financial Group by 6.3% during the 4th quarter. Berman Capital Advisors LLC now owns 3,198 shares of the company’s stock valued at $158,000 after acquiring an additional 190 shares during the last quarter. 69.09% of the stock is owned by institutional investors.
In other news, insider Timothy Mark Dunbar sold 10,000 shares of the stock in a transaction dated Thursday, February 25th. The stock was sold at an average price of $60.40, for a total value of $604,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Julia M. Lawler sold 8,410 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $53.93, for a total value of $453,551.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,906 shares of company stock worth $1,257,348. 1.09% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Thursday, June 3rd will be issued a dividend of $0.61 per share. The ex-dividend date is Wednesday, June 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.56. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.77%. Principal Financial Group’s dividend payout ratio is currently 40.14%.
Principal Financial Group Company Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates in Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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