Principal Financial Group (PFG) Set to Announce Quarterly Earnings on Thursday

Principal Financial Group (NYSE:PFG) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $1.99 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, analysts expect Principal Financial Group to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Principal Financial Group Trading Down 0.9 %

NYSE:PFG opened at $89.65 on Tuesday. Principal Financial Group has a 1 year low of $66.21 and a 1 year high of $91.97. The stock has a market cap of $21.01 billion, a P/E ratio of 17.11, a P/E/G ratio of 0.96 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50-day simple moving average of $83.05 and a 200-day simple moving average of $81.58.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were paid a dividend of $0.72 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, September 5th. This represents a $2.88 annualized dividend and a yield of 3.21%. Principal Financial Group’s payout ratio is presently 54.96%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Raymond James upgraded shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Barclays raised their price objective on Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a report on Wednesday, October 9th. Finally, Bank of America cut their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average price target of $85.42.

Principal Financial Group Company Profile

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.