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

Principal Financial Group (NYSE:PFG) released its quarterly earnings data 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. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company posted $1.72 earnings per share.

Principal Financial Group Price Performance

NYSE PFG traded down $5.94 during trading hours on Friday, reaching $83.71. 4,195,277 shares of the company’s stock were exchanged, compared to its average volume of 1,131,609. The firm has a fifty day moving average of $84.00 and a 200-day moving average of $81.71. Principal Financial Group has a one year low of $66.71 and a one year high of $91.97. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $19.62 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Analyst Ratings Changes

PFG has been the topic of several analyst reports. Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America lowered their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group upped their price objective on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, July 9th. Two investment 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.58.

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.