Principal Financial Group Inc (PFG) Chairman Daniel Joseph Houston Sells 38,097 Shares of Stock

Principal Financial Group Inc (NYSE:PFG) Chairman Daniel Joseph Houston sold 38,097 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $2,590,596.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Principal Financial Group Inc (NYSE PFG) traded down 0.18% during trading on Friday, reaching $68.05. 308,044 shares of the company’s stock traded hands. The firm has a market cap of $19.66 billion, a PE ratio of 15.47 and a beta of 1.67. Principal Financial Group Inc has a 12 month low of $52.08 and a 12 month high of $68.90. The firm has a 50 day moving average price of $64.31 and a 200-day moving average price of $64.18.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm posted $1.15 EPS. On average, analysts forecast that Principal Financial Group Inc will post $5.20 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were given a dividend of $0.47 per share. The ex-dividend date was Wednesday, August 30th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 2.76%. Principal Financial Group’s payout ratio is 42.73%.

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A number of large investors have recently modified their holdings of PFG. OppenheimerFunds Inc. lifted its position in Principal Financial Group by 7.3% during the 1st quarter. OppenheimerFunds Inc. now owns 29,154 shares of the financial services provider’s stock worth $1,840,000 after buying an additional 1,975 shares in the last quarter. Ngam Advisors L.P. lifted its position in Principal Financial Group by 6.7% during the 1st quarter. Ngam Advisors L.P. now owns 15,302 shares of the financial services provider’s stock worth $966,000 after buying an additional 964 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in Principal Financial Group by 2.4% during the 1st quarter. Thrivent Financial For Lutherans now owns 19,050 shares of the financial services provider’s stock worth $1,202,000 after buying an additional 450 shares in the last quarter. Global X Management Co. LLC lifted its position in Principal Financial Group by 29.2% during the 1st quarter. Global X Management Co. LLC now owns 4,391 shares of the financial services provider’s stock worth $277,000 after buying an additional 993 shares in the last quarter. Finally, UBS Group AG lifted its position in Principal Financial Group by 25.0% during the 1st quarter. UBS Group AG now owns 123,395 shares of the financial services provider’s stock worth $7,787,000 after buying an additional 24,662 shares in the last quarter. 68.18% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “buy” rating and set a $74.00 price objective on shares of Principal Financial Group in a report on Wednesday, September 6th. BidaskClub lowered Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) assumed coverage on Principal Financial Group in a report on Wednesday. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 price objective on shares of Principal Financial Group in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.40.

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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