Today: The Insider Selling: Principal Financial Group Inc. (PFG) EVP Sells $260,000.00 in Stock

The Insider Selling: Principal Financial Group Inc. (PFG) EVP Sells $260,000.00 in Stock

Principal Financial Group Inc. (NYSE:PFG) EVP Timothy Mark Dunbar sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $52.00, for a total value of $260,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Principal Financial Group Inc. (NYSE:PFG) opened at 52.50 on Wednesday. The firm has a market capitalization of $15.10 billion, a PE ratio of 12.48 and a beta of 1.66. The stock has a 50 day moving average price of $49.76 and a 200 day moving average price of $44.73. Principal Financial Group Inc. has a 52 week low of $33.09 and a 52 week high of $52.93.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same quarter in the prior year, the company posted $1.09 earnings per share. Equities analysts forecast that Principal Financial Group Inc. will post $4.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were given a dividend of $0.41 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Wednesday, August 31st. Principal Financial Group’s payout ratio is currently 38.86%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Washington Trust Bank increased its position in shares of Principal Financial Group by 0.9% in the third quarter. Washington Trust Bank now owns 2,721 shares of the company’s stock valued at $140,000 after buying an additional 25 shares in the last quarter. Beacon Financial Group bought a new position in shares of Principal Financial Group during the third quarter valued at about $6,706,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Principal Financial Group during the second quarter valued at about $447,000. Kentucky Retirement Systems bought a new position in shares of Principal Financial Group during the second quarter valued at about $942,000. Finally, Mason Street Advisors LLC bought a new position in shares of Principal Financial Group during the second quarter valued at about $1,493,000. Hedge funds and other institutional investors own 67.13% of the company’s stock.

PFG has been the subject of several research reports. Bank of America Corp. lowered Principal Financial Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Evercore ISI started coverage on Principal Financial Group in a research report on Wednesday, July 6th. They issued a “buy” rating and a $48.00 price target for the company. Stifel Nicolaus upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Sunday, July 31st. JPMorgan Chase & Co. restated a “sell” rating and issued a $46.00 price target on shares of Principal Financial Group in a research report on Friday, July 29th. Finally, Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.73.

Principal Financial Group Company Profile

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