Gary P. Scholten Sells 24,310 Shares of Principal Financial Group Inc (PFG) Stock

Principal Financial Group Inc (NYSE:PFG) EVP Gary P. Scholten sold 24,310 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $71.59, for a total transaction of $1,740,352.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Principal Financial Group Inc (NYSE:PFG) opened at $73.88 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26. The stock has a market cap of $21,330.00, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72. Principal Financial Group Inc has a fifty-two week low of $56.12 and a fifty-two week high of $74.05.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 4th were given a dividend of $0.49 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Friday, December 1st. Principal Financial Group’s dividend payout ratio is currently 32.13%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $73.00 target price on shares of Principal Financial Group in a report on Monday, December 11th. Wells Fargo & Co lowered shares of Principal Financial Group from an “outperform” rating to a “market perform” rating in a report on Tuesday. Goldman Sachs Group assumed coverage on shares of Principal Financial Group in a report on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $68.50.

Several hedge funds and other institutional investors have recently bought and sold shares of PFG. Pacer Advisors Inc. boosted its position 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 valued at $357,000 after acquiring an additional 38 shares during the last quarter. Neuberger Berman Group LLC boosted its position 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 valued at $547,000 after acquiring an additional 266 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position 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 valued at $1,276,000 after acquiring an additional 82 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its position in Principal Financial Group by 15.9% in the second quarter. Aberdeen Asset Management PLC UK now owns 82,535 shares of the financial services provider’s stock worth $5,288,000 after buying an additional 11,315 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Principal Financial Group by 6.5% in the second quarter. Alliancebernstein L.P. now owns 497,833 shares of the financial services provider’s stock worth $31,896,000 after buying an additional 30,486 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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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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