Principal Financial Group (PFG) Scheduled to Post Quarterly Earnings on Thursday

Principal Financial Group (NYSE:PFG) is scheduled to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Principal Financial Group to post earnings of $1.80 per share for the quarter. Principal Financial Group has set its FY24 guidance at $7.14-7.34 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Principal Financial Group (NYSE:PFG) last released its earnings results on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3.53 billion. Principal Financial Group had a return on equity of 15.14% and a net margin of 4.56%. During the same period in the prior year, the business posted $1.70 earnings per share. On average, analysts expect Principal Financial Group to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $81.51 on Wednesday. The company has a market cap of $19.17 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 0.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group has a 12 month low of $65.17 and a 12 month high of $86.79. The stock’s 50-day moving average is $81.73 and its 200-day moving average is $77.33.

Principal Financial Group announced that its Board of Directors has authorized a share repurchase plan on Monday, February 12th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were issued a dividend of $0.69 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. This represents a $2.76 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, March 11th. Principal Financial Group’s dividend payout ratio (DPR) is presently 112.65%.

Wall Street Analyst Weigh In

PFG has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods lifted their target price on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their target price on Principal Financial Group from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Royal Bank of Canada boosted their price objective on Principal Financial Group from $75.00 to $83.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley boosted their price objective on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $80.64.

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.