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

Principal Financial Group (NYSE:PFG - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $1.76 EPS for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26), Zacks reports. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $1.72 EPS.

Principal Financial Group Trading Down 6.6 %

NYSE:PFG traded down $5.94 on Friday, reaching $83.71. 4,195,277 shares of the stock traded hands, compared to its average volume of 1,131,609. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. Principal Financial Group has a 1-year low of $66.71 and a 1-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 company's 50 day moving average is $84.00 and its 200-day moving average is $81.72.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PFG shares. Raymond James upgraded shares of Principal Financial Group from a "market perform" rating to a "strong-buy" rating and set a $99.00 price objective for the company in a research report on Tuesday, July 9th. Citigroup increased their price target on Principal Financial Group from $68.00 to $70.00 and gave the company a "sell" rating in a research note on Tuesday, July 23rd. Barclays boosted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research report on Friday. Jefferies Financial Group increased their target price on Principal Financial Group from $73.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Principal Financial Group currently has an average rating of "Hold" and a consensus target price of $85.58.

Principal Financial Group Company Profile

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.