Q2 2022 EPS Estimates for Principal Financial Group, Inc. (NASDAQ:PFG) Lifted by Analyst

Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) – Jefferies Financial Group upped their Q2 2022 EPS estimates for Principal Financial Group in a report released on Sunday, June 5th. Jefferies Financial Group analyst S. Kamath now forecasts that the company will earn $1.50 per share for the quarter, up from their prior forecast 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 equities research analysts have also recently issued reports about the company. Piper Sandler increased their target price on Principal Financial Group from $76.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 6th. Citigroup began coverage on shares of Principal Financial Group in a research note on Monday, May 23rd. They set a “sell” rating and a $63.00 price objective for the company. Royal Bank of Canada dropped their target price on shares of Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 3rd. Morgan Stanley cut their price target on shares of Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, March 3rd. Finally, Barclays boosted 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.33.

Shares of Principal Financial Group stock opened at $72.20 on Wednesday. Principal Financial Group has a 12 month low of $58.66 and a 12 month high of $80.36. The firm has a market capitalization of $18.24 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $71.87 and a two-hundred day simple moving average of $71.99.

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

Institutional investors have recently made changes to their positions in the stock. Clarius Group LLC lifted its position in Principal Financial Group by 6.4% during the fourth quarter. Clarius Group LLC now owns 4,040 shares of the company’s stock valued at $292,000 after purchasing an additional 242 shares during the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of Principal Financial Group by 22.1% in the 4th quarter. Hilltop Holdings Inc. now owns 5,426 shares of the company’s stock valued at $392,000 after acquiring an additional 982 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Principal Financial Group by 13.2% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 116,323 shares of the company’s stock worth $8,516,000 after acquiring an additional 13,532 shares during the last quarter. Nordea Investment Management AB increased its stake in Principal Financial Group by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 14,842 shares of the company’s stock worth $1,073,000 after acquiring an additional 701 shares during the last quarter. Finally, Venture Visionary Partners LLC raised its position in Principal Financial Group by 14.6% during the fourth quarter. Venture Visionary Partners LLC now owns 9,558 shares of the company’s stock valued at $691,000 after purchasing an additional 1,221 shares during the period. 77.69% of the stock is owned by institutional investors.

In other news, EVP Wee Yee Cheong sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 25th. The stock was 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 owns 37,093 shares of the company’s stock, valued at $2,633,603. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.17% of the stock is currently owned by insiders.

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

Read More

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

Want More Great Investing Ideas?

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.