Principal Financial Group (NYSE:PFG) Announces Earnings Results

Principal Financial Group (NYSE:PFG) announced its quarterly earnings data on Thursday. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26), Zacks reports. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same period in the prior year, the firm earned $1.72 EPS.

Principal Financial Group Price Performance

NYSE PFG traded down $5.94 during trading hours on Friday, hitting $83.71. 4,195,277 shares of the company’s stock traded hands, compared to its average volume of 1,131,609. The firm’s 50-day moving average is $84.00 and its 200-day moving average is $81.71. Principal Financial Group has a 52-week low of $66.71 and a 52-week high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $19.62 billion, a PE ratio of 15.98, a PEG ratio of 0.95 and a beta of 1.19.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Citigroup increased their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Piper Sandler increased their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $88.00 to $96.00 in a report on Tuesday, July 2nd. Finally, Raymond James raised shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target for the company in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $85.58.

About Principal Financial Group

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.