News headlines about Principal Financial Group (NYSE:PFG) have been trending somewhat positive this week, according to InfoTrie. The research group identifies positive and negative media coverage by reviewing more than 6,000 blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Principal Financial Group earned a coverage optimism score of 1.75 on their scale. InfoTrie also gave media coverage about the financial services provider an news buzz score of 10 out of 10, indicating that recent media coverage is extremely likely to have an impact on the stock’s share price in the immediate future.
These are some of the news stories that may have impacted Principal Financial Group’s analysis:
- Principal Financial Announces Business Unit Outlook Metrics (markets.businessinsider.com)
- Principal Financial +1.2% after outlining 2019 capital deployment (seekingalpha.com)
- Principal Announces 2019 Outlook and Long-Term Guidance (finance.yahoo.com)
- Principal Financial Group Inc (PFG) Near-Term Moving Average Signal Update – Hartsburg News (hartsburgnews.com)
- SK Holdings Co., Ltd. (KOSE:A034730), Principal Financial Group, Inc. (NasdaqGS:PFG) Volatility in Focus – Riverdale Standard (riverdalestandard.com)
Shares of Principal Financial Group stock traded down $1.01 on Monday, reaching $48.31. 3,279,582 shares of the company were exchanged, compared to its average volume of 1,612,103. Principal Financial Group has a one year low of $45.20 and a one year high of $75.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 4.47%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 30th.
Principal Financial Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have recently issued reports on PFG. UBS Group upped their price objective on Principal Financial Group from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, October 8th. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday, September 26th. Credit Suisse Group dropped their price objective on Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. Deutsche Bank began coverage on Principal Financial Group in a research note on Tuesday, October 16th. They set a “hold” rating and a $61.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on Principal Financial Group from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 13th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $64.70.
In other Principal Financial Group news, insider Amy Christine Friedrich sold 1,700 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $61.00, for a total value of $103,700.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel Gelatt acquired 25,000 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was purchased at an average cost of $48.10 per share, for a total transaction of $1,202,500.00. Following the completion of the acquisition, the director now owns 138,694 shares in the company, valued at $6,671,181.40. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.
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Principal Financial Group Company Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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