Principal Financial Group (PFG) Announces Earnings Results

Principal Financial Group (NYSE:PFG) posted its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.18), Bloomberg Earnings reports. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the firm earned $1.19 EPS.

Shares of Principal Financial Group stock opened at $49.21 on Thursday. Principal Financial Group has a 1 year low of $40.42 and a 1 year high of $64.73.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, March 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.39%.

Principal Financial Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Several analysts have weighed in on PFG shares. TheStreet raised Principal Financial Group from a “c+” rating to a “b-” rating in a report on Monday, January 28th. Goldman Sachs Group downgraded Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Tuesday, January 8th. Royal Bank of Canada downgraded shares of Principal Financial Group from an “outperform” rating to a “sector perform” rating and set a $49.00 target price for the company. in a research note on Tuesday, December 11th. UBS Group downgraded shares of Principal Financial Group from a “neutral” rating to a “sell” rating and decreased their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 5th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Principal Financial Group in a research note on Wednesday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $58.60.

In other news, insider Amy Christine Friedrich sold 900 shares of the business’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $49.00, for a total transaction of $44,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $50.17, for a total value of $50,170.00. The disclosure for this sale can be found here. Insiders sold 2,900 shares of company stock worth $144,270 over the last ninety days. 1.50% of the stock is currently owned by insiders.

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About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Earnings History for Principal Financial Group (NYSE:PFG)

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