Principal Financial Group, Inc. (NASDAQ:PFG - Get Rating) EVP Roberto Walker sold 6,000 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $78.58, for a total transaction of $471,480.00. Following the transaction, the executive vice president now owns 43,008 shares of the company's stock, valued at $3,379,568.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Principal Financial Group Price Performance
Principal Financial Group stock traded up $0.57 during mid-day trading on Thursday, reaching $79.29. The company had a trading volume of 1,331,239 shares, compared to its average volume of 1,672,043. Principal Financial Group, Inc. has a fifty-two week low of $60.97 and a fifty-two week high of $80.36. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.39. The company has a market cap of $19.76 billion, a P/E ratio of 4.79, a P/E/G ratio of 2.10 and a beta of 1.36. The business has a fifty day simple moving average of $67.86 and a 200 day simple moving average of $68.29.
Principal Financial Group (NASDAQ:PFG - Get Rating) last issued its earnings results on Monday, August 8th. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.26. Principal Financial Group had a net margin of 24.69% and a return on equity of 13.09%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.24 billion. On average, equities research analysts predict that Principal Financial Group, Inc. will post 6.33 earnings per share for the current year.
Principal Financial Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 8th will be given a $0.64 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $2.56 dividend on an annualized basis and a yield of 3.23%. Principal Financial Group's dividend payout ratio is currently 15.56%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Principal Financial Group in a research note on Monday, May 23rd. They issued a "sell" rating and a $63.00 target price for the company. Evercore ISI raised their target price on shares of Principal Financial Group to $76.00 in a report on Monday. Royal Bank of Canada lowered their target price on shares of Principal Financial Group from $79.00 to $70.00 in a report on Monday, July 11th. Piper Sandler lowered their target price on shares of Principal Financial Group from $74.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, July 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Principal Financial Group from $72.00 to $69.00 in a report on Monday, July 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $72.00.
Institutional Trading of Principal Financial Group
A number of hedge funds have recently added to or reduced their stakes in PFG. Riverview Trust Co acquired a new position in shares of Principal Financial Group during the first quarter worth $29,000. MCF Advisors LLC acquired a new position in shares of Principal Financial Group during the first quarter worth $32,000. Allegheny Financial Group LTD acquired a new position in shares of Principal Financial Group during the fourth quarter worth $33,000. Clear Street Markets LLC lifted its holdings in shares of Principal Financial Group by 397.0% during the second quarter. Clear Street Markets LLC now owns 492 shares of the company's stock worth $33,000 after purchasing an additional 393 shares during the period. Finally, Truvestments Capital LLC acquired a new position in shares of Principal Financial Group during the second quarter worth $33,000. Institutional investors and hedge funds own 77.69% of the company's stock.
About Principal Financial Group
(Get Rating)Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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Roberto Walker Sells 6,000 Shares of Principal Financial Group, Inc. (NASDAQ:PFG) Stock - MarketBeat
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