Principal Financial Group, Inc. to Post FY2022 Earnings of $6.45 Per Share, Jefferies Financial Group Forecasts (NASDAQ:PFG)

Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) – Stock analysts at Jefferies Financial Group upped their FY2022 earnings per share estimates for shares of Principal Financial Group in a report issued on Monday, November 21st. Jefferies Financial Group analyst S. Kamath now expects that the company will earn $6.45 per share for the year, up from their previous forecast of $6.20. Jefferies Financial Group currently has a “Underperform” rating and a $60.00 price target on the stock. The consensus estimate for Principal Financial Group’s current full-year earnings is $6.43 per share. Jefferies Financial Group also issued estimates for Principal Financial Group’s Q1 2023 earnings at $1.57 EPS, Q2 2023 earnings at $1.75 EPS, Q3 2023 earnings at $1.76 EPS, Q4 2023 earnings at $1.77 EPS, FY2023 earnings at $6.85 EPS, FY2024 earnings at $7.50 EPS, FY2025 earnings at $8.15 EPS and FY2026 earnings at $8.85 EPS.

Several other equities research analysts also recently weighed in on the company. StockNews.com started coverage on Principal Financial Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada increased their price target on Principal Financial Group from $75.00 to $88.00 in a research report on Monday, October 31st. Credit Suisse Group downgraded Principal Financial Group from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $82.00 to $86.00 in a research report on Thursday, August 18th. Raymond James assumed coverage on shares of Principal Financial Group in a research note on Wednesday, September 21st. They set a “market perform” rating on the stock. Finally, Evercore ISI lowered shares of Principal Financial Group from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $75.00 to $81.00 in a research note on Thursday, November 17th. Seven equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.50.

Principal Financial Group Price Performance

Shares of PFG opened at $91.78 on Thursday. The business’s 50-day moving average is $83.55 and its two-hundred day moving average is $75.22. The company has a market capitalization of $22.46 billion, a P/E ratio of 4.45, a P/E/G ratio of 2.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.37 and a current ratio of 0.37. Principal Financial Group has a fifty-two week low of $61.05 and a fifty-two week high of $96.17.

Institutional Trading of Principal Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Dedication LLC increased its holdings in shares of Principal Financial Group by 5,666.7% during the 3rd quarter. Asset Dedication LLC now owns 346 shares of the company’s stock worth $25,000 after buying an additional 340 shares during the last quarter. MCF Advisors LLC acquired a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $32,000. Clear Street Markets LLC increased its holdings in shares of Principal Financial Group by 397.0% during the 2nd quarter. Clear Street Markets LLC now owns 492 shares of the company’s stock worth $33,000 after buying an additional 393 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $33,000. Finally, Guardian Wealth Advisors LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Insider Activity at Principal Financial Group

In related news, EVP Wee Yee Cheong sold 2,447 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total value of $191,967.15. Following the transaction, the executive vice president now directly owns 34,700 shares of the company’s stock, valued at approximately $2,722,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Principal Financial Group news, Director Sandra L. Helton sold 14,033 shares of the stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $80.05, for a total value of $1,123,341.65. Following the completion of the sale, the director now owns 18,245 shares in the company, valued at approximately $1,460,512.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wee Yee Cheong sold 2,447 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total transaction of $191,967.15. Following the completion of the sale, the executive vice president now owns 34,700 shares of the company’s stock, valued at approximately $2,722,215. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by corporate insiders.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, December 1st will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, November 30th. Principal Financial Group’s dividend payout ratio is presently 12.41%.

Principal Financial Group Company Profile

(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.

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

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