Principal Financial Group (NASDAQ:PFG) Releases Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Key Points

• Principal Financial Group reported quarterly EPS of $2.22, missing the consensus estimate of $2.46 by $0.24. The company posted a 16.49% return on equity and a 9.93% net margin.
• PFG shares rose $1.56 to $110.13 during Monday trading. The stock has traded between $79.48 and $121.18 over the past year and has a market capitalization of approximately $23.58 billion.
• Analyst sentiment remains mixed, with three Buy, six Hold and three Sell ratings. MarketBeat reports an overall Hold rating and a consensus price target of $108.67.

Principal Financial Group (NASDAQ:PFG - Get Free Report) released its earnings results on Monday. The company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.46 by ($0.24), Zacks reports. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.

Principal Financial Group Stock Performance

Shares of PFG stock traded up $1.56 during trading hours on Monday, reaching $110.13. The stock had a trading volume of 1,331,717 shares, compared to its average volume of 1,445,931. The firm has a 50-day simple moving average of $112.27 and a 200-day simple moving average of $108.19. Principal Financial Group has a twelve month low of $79.48 and a twelve month high of $121.18. The firm has a market capitalization of $23.58 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays decreased their price target on Principal Financial Group from $92.00 to $86.00 and set an "underweight" rating for the company in a research note on Wednesday, October 7th. Morgan Stanley upped their price objective on Principal Financial Group from $107.00 to $112.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. UBS Group upped their price objective on Principal Financial Group from $98.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 10th. Wells Fargo & Company reduced their target price on Principal Financial Group from $113.00 to $112.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 20th. Finally, Keefe, Bruyette & Woods decreased their target price on Principal Financial Group from $117.00 to $115.00 and set a "market perform" rating for the company in a research report on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $108.67.

About Principal Financial Group

Principal Financial Group, Inc is a global financial services company that helps individuals and businesses build, protect and manage wealth. Its offerings include retirement plans, individual retirement accounts, investment products, life and disability insurance, and financial wellness solutions. The company also provides institutional investment management and pension-risk transfer services.

Principal serves employers, institutions and individual investors through a range of retirement and workplace benefits solutions.

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