Principal Financial: Asset Management Headwinds Make Shares Less Attractive (Rating Downgrade) [Seeking Alpha]
Principal Financial Group Inc (PFG)
Last principal financial group inc earnings: 4/27 04:15 pm
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US:NYSE Investor Relations:
investors.principal.com/investor-relations/default.aspx
Company Research
Source: Seeking Alpha
The company's recent financials showed positive improvements in its retirement and income solutions unit, but concerns remain about its asset manager's performance. PFG's exposure to commercial real estate and weak valuations in its real estate funds pose downside risks to earnings. Shares of Principal Financial Group ( NASDAQ: PFG ) are near a 52-week, though their 16% gain has lagged the S&P 500, as its asset management business has faced net outflows. I last wrote about Principal in October , when I rated shares a “hold,” since then, they have returned about 26%, nearly identical to the S&P 500. That is consistent with my view that shares should “perform broadly in-line with the market.” Still, with more recent financials, still elevated interest rates, and a meaningfully higher share price, it is an appropriate time to revisit the stock. After this move, I would take profits more aggressively. In the company's fourth quarter reported on February 12 , Principal earned $1.81
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PFG
News
- SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Principal Financial Group, Inc. (PFG) and Encourages Investors to Contact the FirmAccesswire
- 3 Top-Ranked Dividend Stocks: A Smarter Way to Boost Your Retirement Income [Yahoo! Finance]Yahoo! Finance
- Principal® survey reveals businesses set to grow, amid increased levels of optimism [Yahoo! Finance]Yahoo! Finance
- Principal® survey reveals businesses set to grow, amid increased levels of optimismBusiness Wire
- Why Principal Financial (PFG) is a Great Dividend Stock Right Now [Yahoo! Finance]Yahoo! Finance
PFG
Earnings
- 4/25/24 - Miss
PFG
Sec Filings
- 5/1/24 - Form 10-Q
- 4/30/24 - Form 144
- 4/29/24 - Form 13F-HR
- PFG's page on the SEC website