Principal Financial Group Inc (NYSE:PFG) Expected to Post Earnings of $1.28 Per Share
Analysts expect Principal Financial Group Inc (NYSE:PFG) to post $1.28 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Principal Financial Group’s earnings. The lowest EPS estimate is $1.26 and the highest is $1.31. Principal Financial Group posted earnings per share of $1.15 during the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The business is expected to report its next earnings results on Thursday, October 26th.
On average, analysts expect that Principal Financial Group will report full-year earnings of $5.19 per share for the current fiscal year, with EPS estimates ranging from $5.15 to $5.25. For the next fiscal year, analysts forecast that the company will report earnings of $5.49 per share, with EPS estimates ranging from $5.44 to $5.55. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Principal Financial Group.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same quarter in the prior year, the firm posted $1.15 earnings per share.
PFG has been the topic of a number of recent analyst reports. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research note on Thursday, August 3rd. BidaskClub cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Deutsche Bank AG lifted their target price on shares of Principal Financial Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Principal Financial Group has an average rating of “Hold” and an average price target of $61.22.
Shares of Principal Financial Group (NYSE:PFG) traded down 0.36% on Wednesday, hitting $65.99. 924,906 shares of the stock traded hands. The stock’s 50 day moving average price is $65.45 and its 200 day moving average price is $63.11. Principal Financial Group has a 52-week low of $46.40 and a 52-week high of $67.73. The stock has a market cap of $19.04 billion, a P/E ratio of 15.00 and a beta of 1.65.
Principal Financial Group declared that its board has initiated a share repurchase program on Wednesday, May 17th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 30th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a yield of 2.85%. Principal Financial Group’s dividend payout ratio (DPR) is currently 41.82%.
In other Principal Financial Group news, insider James P. Mccaughan sold 60,817 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $66.98, for a total transaction of $4,073,522.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gary P. Scholten sold 13,495 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total transaction of $904,165.00. The disclosure for this sale can be found here. Insiders have sold a total of 355,913 shares of company stock valued at $23,099,450 over the last three months. 1.50% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. CENTRAL TRUST Co raised its position in Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares in the last quarter. Jacobi Capital Management LLC raised its position in Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after buying an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Principal Financial Group during the first quarter worth about $202,000. Blair William & Co. IL acquired a new position in Principal Financial Group during the first quarter worth about $205,000. Finally, Eagle Global Advisors LLC acquired a new position in Principal Financial Group during the second quarter worth about $207,000. 70.45% of the stock is owned by institutional investors.
About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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