Principal Financial Group (PFG) Scheduled to Post Quarterly Earnings on Thursday

Principal Financial Group (NYSE:PFG) will be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.80 per share for the quarter. Principal Financial Group has set its FY24 guidance at $7.14-7.34 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Principal Financial Group had a net margin of 4.56% and a return on equity of 15.14%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the company posted $1.70 EPS. On average, analysts expect Principal Financial Group to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Principal Financial Group Stock Up 0.3 %

Shares of NYSE PFG opened at $78.48 on Thursday. Principal Financial Group has a 1 year low of $65.17 and a 1 year high of $86.79. The firm’s 50 day moving average price is $81.57 and its 200 day moving average price is $76.95. The firm has a market cap of $18.45 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Monday, March 11th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio (DPR) is 112.65%.

Principal Financial Group declared that its board has authorized a stock buyback plan on Monday, February 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Morgan Stanley boosted their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday. Evercore ISI boosted their price objective on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $80.64.

Institutional Investors Weigh In On Principal Financial Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Principal Financial Group by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 304,450 shares of the company’s stock valued at $23,952,000 after purchasing an additional 5,718 shares during the last quarter. Harbour Investments Inc. raised its holdings in Principal Financial Group by 24.2% during the 4th quarter. Harbour Investments Inc. now owns 2,023 shares of the company’s stock worth $159,000 after buying an additional 394 shares during the period. O Dell Group LLC acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $37,000. GSA Capital Partners LLP acquired a new stake in Principal Financial Group during the 4th quarter worth approximately $273,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Principal Financial Group by 2.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 115,751 shares of the company’s stock worth $9,106,000 after buying an additional 2,896 shares during the period. Institutional investors own 75.08% of the company’s stock.

About Principal Financial Group

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.