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Brokers Set Expectations for Principal Financial Group, Inc.’s FY2022 Earnings (NASDAQ:PFG)

Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) – Stock analysts at Jefferies Financial Group raised their FY2022 earnings estimates for shares of Principal Financial Group in a research note issued on Monday, November 21st. Jefferies Financial Group analyst S. Kamath now expects that the company will earn $6.45 per share for the year, up from their prior estimate of $6.20. Jefferies Financial Group has a “Underperform” rating and a $60.00 price objective on the stock. The consensus estimate for Principal Financial Group’s current full-year earnings is $6.43 per share. Jefferies Financial Group also issued estimates for Principal Financial Group’s Q1 2023 earnings at $1.57 EPS, Q2 2023 earnings at $1.75 EPS, Q3 2023 earnings at $1.76 EPS, Q4 2023 earnings at $1.77 EPS, FY2023 earnings at $6.85 EPS, FY2024 earnings at $7.50 EPS, FY2025 earnings at $8.15 EPS and FY2026 earnings at $8.85 EPS.

A number of other research analysts also recently commented on PFG. Piper Sandler upped their price objective on shares of Principal Financial Group to $90.00 in a research note on Tuesday, November 1st. Keefe, Bruyette & Woods downgraded shares of Principal Financial Group from a “market perform” rating to an “underperform” rating and upped their price objective for the company from $75.00 to $77.00 in a research note on Monday, October 31st. Evercore ISI downgraded shares of Principal Financial Group from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $75.00 to $81.00 in a research report on Thursday, November 17th. JPMorgan Chase & Co. downgraded shares of Principal Financial Group from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $69.00 to $72.00 in a research report on Friday, October 7th. Finally, Morgan Stanley downgraded shares of Principal Financial Group from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $76.00 to $79.00 in a research report on Thursday, November 17th. Seven equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.50.

Principal Financial Group Price Performance

NASDAQ:PFG opened at $91.78 on Thursday. Principal Financial Group has a 12-month low of $61.05 and a 12-month high of $96.17. The company’s 50-day moving average is $83.30 and its two-hundred day moving average is $75.04. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.42. The firm has a market cap of $22.46 billion, a price-to-earnings ratio of 4.45, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29.

Hedge Funds Weigh In On Principal Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in PFG. Pathstone Family Office LLC lifted its stake in Principal Financial Group by 1.1% during the third quarter. Pathstone Family Office LLC now owns 10,884 shares of the company’s stock worth $785,000 after purchasing an additional 122 shares during the last quarter. CAPROCK Group Inc. lifted its stake in Principal Financial Group by 4.1% during the third quarter. CAPROCK Group Inc. now owns 3,645 shares of the company’s stock worth $263,000 after purchasing an additional 143 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Principal Financial Group by 0.6% during the first quarter. CIBC Asset Management Inc now owns 25,225 shares of the company’s stock worth $1,852,000 after purchasing an additional 155 shares during the last quarter. Keybank National Association OH lifted its stake in Principal Financial Group by 4.6% during the third quarter. Keybank National Association OH now owns 3,556 shares of the company’s stock worth $257,000 after purchasing an additional 157 shares during the last quarter. Finally, Sentry Investment Management LLC lifted its stake in Principal Financial Group by 11.0% during the second quarter. Sentry Investment Management LLC now owns 1,666 shares of the company’s stock worth $111,000 after purchasing an additional 165 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Principal Financial Group news, Director Sandra L. Helton sold 14,033 shares of the company’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total value of $1,123,341.65. Following the completion of the transaction, the director now owns 18,245 shares in the company, valued at approximately $1,460,512.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Wee Yee Cheong sold 2,447 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $78.45, for a total transaction of $191,967.15. Following the completion of the transaction, the executive vice president now directly owns 34,700 shares in the company, valued at approximately $2,722,215. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sandra L. Helton sold 14,033 shares of the stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $80.05, for a total value of $1,123,341.65. Following the transaction, the director now owns 18,245 shares of the company’s stock, valued at $1,460,512.25. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Thursday, December 1st will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, November 30th. Principal Financial Group’s dividend payout ratio is presently 12.41%.

Principal Financial Group Company Profile

(Get Rating)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Earnings History and Estimates for Principal Financial Group (NASDAQ:PFG)

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