Here's Why Principal Financial (PFG) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Principal Financial (PFG)
Ranked among the Fortune 500 companies, Des Moines, IA-based Principal Financial Group Inc. is a leader in global investment management offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through our diverse family of financial services companies. The company was founded in 1879.
PFG boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #2 (Buy) rating. Shares of Principal Financial has seen some interesting price action recently; the stock is up 1.4% over the past one week and up 1% over the past four weeks. And in the last one-year period, PFG has lost 12.1%. As for the stock's trading volume, 1,009,029.88 shares on average were traded over the last 20 days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.19 to $7.57 per share. PFG boasts an average earnings surprise of 0%.
PFG should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Principal Financial Group, Inc. (PFG) : Free Stock Analysis Report
