Principal Financial Group Inc (PFG) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Principal Financial Group Inc (NYSE:PFG) issued its quarterly earnings data on Thursday. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02), Bloomberg Earnings reports. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same period in the previous year, the firm earned $1.15 EPS.
Principal Financial Group (PFG) traded up 0.77% during mid-day trading on Thursday, reaching $68.20. The company’s stock had a trading volume of 1,005,781 shares. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 15.50 and a beta of 1.67. Principal Financial Group has a 12-month low of $52.67 and a 12-month high of $68.90. The firm’s 50 day moving average price is $64.88 and its 200 day moving average price is $64.34.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be paid a $0.49 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.87%. Principal Financial Group’s dividend payout ratio (DPR) is presently 42.73%.
TRADEMARK VIOLATION NOTICE: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/10/26/principal-financial-group-inc-pfg-releases-quarterly-earnings-results-misses-expectations-by-0-02-eps.html.
Several brokerages have recently issued reports on PFG. Goldman Sachs Group, Inc. (The) began coverage on Principal Financial Group in a report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price objective on the stock. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, August 1st. Wells Fargo & Company set a $76.00 price objective on Principal Financial Group and gave the stock a “buy” rating in a report on Wednesday, October 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 price objective on shares of Principal Financial Group in a report on Thursday, August 3rd. Finally, Barclays PLC upped their price objective on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.40.
In related news, EVP Karen E. Shaff sold 17,082 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $1,161,576.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Daniel Joseph Houston sold 38,097 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $2,590,596.00. The disclosure for this sale can be found here. Insiders sold 204,354 shares of company stock worth $13,387,478 in the last 90 days. Company insiders own 1.50% of the company’s stock.
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.
Receive News & Ratings for Principal Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.