Principal Financial Group (NASDAQ:PFG) Announces Earnings Results

Key Points

• Principal reported $999.00 EPS for the quarter, with a net margin of 7.58% and ROE of 16.09%; shares traded down to $97.00, giving the company a market cap of ~$21.02B and a P/E of 18.41.
• The company paid a quarterly dividend of $0.80 per share (annualized $3.20), implying a yield of about 3.3% and a payout ratio of 60.72%.
• CEO Deanna Strable-Soethout sold 7,340 shares (reducing her stake by 5.09%), while analysts are mixed—consensus is a "Hold" with an average target of $93.44.

Principal Financial Group (NASDAQ:PFG - Get Free Report) announced its earnings results on Thursday. The company reported $999.00 EPS for the quarter, Zacks reports. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded down $0.43 during trading on Thursday, hitting $97.00. 1,555,110 shares of the company's stock traded hands, compared to its average volume of 1,653,641. The company has a market cap of $21.02 billion, a PE ratio of 18.41, a PEG ratio of 0.87 and a beta of 0.87. The firm's fifty day moving average price is $91.40 and its 200 day moving average price is $88.53. Principal Financial Group has a twelve month low of $71.54 and a twelve month high of $98.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27.

Principal Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, March 11th. Principal Financial Group's payout ratio is 60.72%.

Insiders Place Their Bets

In other news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the company's stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $95.00, for a total value of $697,300.00. Following the sale, the chief executive officer directly owned 136,828 shares in the company, valued at approximately $12,998,660. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.08% of the company's stock.

Institutional Trading of Principal Financial Group

A number of large investors have recently bought and sold shares of PFG. Parallel Advisors LLC lifted its holdings in shares of Principal Financial Group by 7.6% during the fourth quarter. Parallel Advisors LLC now owns 1,686 shares of the company's stock valued at $149,000 after acquiring an additional 119 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in Principal Financial Group by 1.0% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 13,800 shares of the company's stock valued at $1,144,000 after purchasing an additional 137 shares during the last quarter. Capital Analysts LLC boosted its position in Principal Financial Group by 8.0% in the fourth quarter. Capital Analysts LLC now owns 1,954 shares of the company's stock valued at $173,000 after buying an additional 144 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Principal Financial Group by 2.1% during the fourth quarter. Brooklyn Investment Group now owns 8,116 shares of the company's stock worth $723,000 after buying an additional 167 shares in the last quarter. Finally, Lido Advisors LLC raised its stake in shares of Principal Financial Group by 3.1% in the fourth quarter. Lido Advisors LLC now owns 5,801 shares of the company's stock valued at $483,000 after acquiring an additional 172 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group upped their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $103.00 price target on shares of Principal Financial Group in a research report on Monday, January 5th. Barclays reaffirmed an "underweight" rating on shares of Principal Financial Group in a research note on Tuesday. Weiss Ratings raised Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, December 29th. Finally, Wells Fargo & Company lowered their price target on Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating for the company in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $93.44.

About Principal Financial Group

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.