Zacks Research Has Negative Outlook of PFG FY2024 Earnings

Principal Financial Group, Inc. (NYSE:PFG) – Equities research analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of Principal Financial Group in a research report issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $7.04 for the year, down from their prior estimate of $7.28. The consensus estimate for Principal Financial Group’s current full-year earnings is $7.12 per share. Zacks Research also issued estimates for Principal Financial Group’s Q4 2024 earnings at $2.00 EPS, Q2 2025 earnings at $2.04 EPS, Q3 2025 earnings at $2.14 EPS, FY2025 earnings at $8.32 EPS, Q2 2026 earnings at $2.91 EPS, Q3 2026 earnings at $2.29 EPS and FY2026 earnings at $9.27 EPS.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share.

Several other research analysts have also weighed in on PFG. Citigroup boosted their price target on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Morgan Stanley dropped their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Keefe, Bruyette & Woods lowered their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler boosted their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Price Performance

NYSE:PFG opened at $86.56 on Friday. The stock’s 50-day simple moving average is $85.42 and its 200 day simple moving average is $82.15. Principal Financial Group has a 52-week low of $71.37 and a 52-week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $19.80 billion, a P/E ratio of -96.20, a P/E/G ratio of 1.00 and a beta of 1.20.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. EdgeRock Capital LLC bought a new stake in Principal Financial Group during the second quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. bought a new position in Principal Financial Group in the third quarter valued at approximately $33,000. Finally, Innealta Capital LLC acquired a new position in Principal Financial Group during the second quarter valued at approximately $43,000. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.37%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -320.00%.

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.