Principal Financial Group Inc (NYSE:PFG) Chairman Daniel Joseph Houston sold 38,097 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $2,590,596.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Principal Financial Group Inc (PFG) opened at 67.75 on Friday. The company has a market cap of $19.58 billion, a price-to-earnings ratio of 15.40 and a beta of 1.67. The company’s 50-day moving average is $64.46 and its 200-day moving average is $64.21. Principal Financial Group Inc has a 12-month low of $52.49 and a 12-month high of $68.90.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business earned $1.15 EPS. Equities research analysts predict that Principal Financial Group Inc will post $5.20 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were paid a dividend of $0.47 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.77%. Principal Financial Group’s dividend payout ratio (DPR) is presently 42.73%.
Several brokerages have commented on PFG. Goldman Sachs Group, Inc. (The) began coverage on shares of Principal Financial Group in a research report on Wednesday. They issued a “neutral” rating and a $70.00 price objective on the stock. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Tuesday, August 1st. Wells Fargo & Co set a $76.00 price objective on shares of Principal Financial Group and gave the stock a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Principal Financial Group in a research report on Thursday, August 3rd. Finally, Barclays PLC lifted their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $67.40.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its stake in Principal Financial Group by 18.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 588,719 shares of the financial services provider’s stock worth $37,877,000 after acquiring an additional 92,391 shares during the period. Arcadia Investment Management Corp MI raised its stake in Principal Financial Group by 16.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 7,325 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 1,050 shares during the period. Assenagon Asset Management S.A. bought a new stake in Principal Financial Group during the 3rd quarter worth approximately $3,839,000. BerganKDV Wealth Management LLC bought a new stake in Principal Financial Group during the 3rd quarter worth approximately $384,000. Finally, Mutual of America Capital Management LLC raised its stake in Principal Financial Group by 11.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 62,782 shares of the financial services provider’s stock worth $4,039,000 after acquiring an additional 6,580 shares during the period. Institutional investors own 68.18% of the company’s stock.
Principal Financial Group Company Profile
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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