Insider Selling: Principal Financial Group Inc (PFG) Chairman Sells 69,894 Shares of Stock

Principal Financial Group Inc (NYSE:PFG) Chairman Daniel Joseph Houston sold 69,894 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $72.01, for a total value of $5,033,066.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Daniel Joseph Houston also recently made the following trade(s):

  • On Monday, January 8th, Daniel Joseph Houston sold 19,856 shares of Principal Financial Group stock. The shares were sold at an average price of $72.02, for a total value of $1,430,029.12.
  • On Tuesday, November 28th, Daniel Joseph Houston sold 37,080 shares of Principal Financial Group stock. The shares were sold at an average price of $70.05, for a total value of $2,597,454.00.
  • On Wednesday, October 18th, Daniel Joseph Houston sold 38,097 shares of Principal Financial Group stock. The stock was sold at an average price of $68.00, for a total value of $2,590,596.00.

Shares of Principal Financial Group Inc (NYSE PFG) opened at $73.38 on Thursday. Principal Financial Group Inc has a fifty-two week low of $56.12 and a fifty-two week high of $74.05. The firm has a market capitalization of $21,190.00, a P/E ratio of 12.03, a PEG ratio of 1.35 and a beta of 1.72. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business posted $1.15 EPS. research analysts expect that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 4th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, December 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s dividend payout ratio (DPR) is presently 32.13%.

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Principal Financial Group by 0.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 38 shares in the last quarter. Cookson Peirce & Co. Inc. grew its holdings in shares of Principal Financial Group by 0.8% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 50 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Principal Financial Group by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the financial services provider’s stock worth $1,276,000 after purchasing an additional 82 shares in the last quarter. Veritable L.P. grew its holdings in shares of Principal Financial Group by 4.0% during the 2nd quarter. Veritable L.P. now owns 6,137 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 235 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Principal Financial Group by 3.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 8,540 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 266 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.

PFG has been the topic of several recent analyst reports. Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target on the stock in a research report on Monday, October 2nd. Morgan Stanley lifted their price target on Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Goldman Sachs Group initiated coverage on Principal Financial Group in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 price target on the stock. Wells Fargo & Co set a $76.00 price target on Principal Financial Group and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 price target on shares of Principal Financial Group in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Principal Financial Group currently has an average rating of “Hold” and an average price target of $68.50.

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About Principal Financial Group

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.

Insider Buying and Selling by Quarter for Principal Financial Group (NYSE:PFG)

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