Principal Financial Group (NYSE:PFG) Posts Quarterly Earnings Results, Misses Estimates By $0.26 EPS

by · The Cerbat Gem

Principal Financial Group (NYSE:PFG – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26), Zacks reports. 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 return on equity of 14.92% and a net margin of 8.05%. During the same period in the prior year, the business earned $1.72 earnings per share.

Principal Financial Group Trading Down 6.6 %

Shares of NYSE:PFG traded down $5.94 during midday trading on Friday, hitting $83.71. 4,195,277 shares of the stock were exchanged, compared to its average volume of 1,131,609. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 0.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50-day moving average price is $84.00 and its 200 day moving average price is $81.71. Principal Financial Group has a 12 month low of $66.71 and a 12 month high of $91.97.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America decreased their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Morgan Stanley decreased their target price on shares of 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. Jefferies Financial Group raised their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Citigroup raised their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Finally, Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.58.

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Principal Financial Group Company Profile

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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.

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