Zacks Research Has Negative Estimate for PFG FY2024 Earnings

Principal Financial Group, Inc. (NYSE:PFG) – Research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of Principal Financial Group in a research note issued on Wednesday, November 13th. Zacks Research analyst R. Department now expects 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 announced its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the previous year, the company earned $1.72 EPS.

A number of other research analysts have also commented on PFG. Morgan Stanley cut their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Barclays raised their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler raised their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Two 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. Based on data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $86.56 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $19.80 billion, a PE ratio of -96.20, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The firm has a fifty day moving average price of $85.42 and a two-hundred day moving average price of $82.15. Principal Financial Group has a fifty-two week low of $71.37 and a fifty-two week high of $91.97.

Principal Financial Group Increases Dividend

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

Institutional Investors Weigh In On Principal Financial Group

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings in Principal Financial Group by 2.2% in the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after purchasing an additional 135 shares during the period. Ballentine Partners LLC raised its stake in Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after buying an additional 138 shares during the period. Graypoint LLC lifted its holdings in Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after acquiring an additional 140 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in Principal Financial Group by 2.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after acquiring an additional 142 shares during the period. Finally, Empirical Finance LLC increased its holdings in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after acquiring an additional 142 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

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.