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Here's Why Principal Financial (PFG) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

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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 is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 2.1% over the past one week and up 5.7% over the past four weeks. PFG has gained 15.1% in the last one-year period as well. Looking at trading volume, an average of 1,373,835 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, six analysts revised their earnings estimate higher in the last 60 days for PFG, while the Zacks Consensus Estimate has increased $0.18 to $7.64 per share. PFG also 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

To read this article on Zacks.com click here.

Zacks Investment Research