Insider Selling: Principal Financial Group EVP Unloads $689,850 in Stock (PFG)
Principal Financial Group (NYSE:PFG) EVP Gary P. Scholten sold 12,775 shares of Principal Financial Group stock on the open market in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $54.00, for a total value of $689,850.00. Following the completion of the transaction, the executive vice president now directly owns 54,585 shares of the company’s stock, valued at approximately $2,947,590. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Principal Financial Group (NYSE:PFG) traded up 0.54% on Wednesday, hitting $54.36. 974,389 shares of the company’s stock traded hands. Principal Financial Group has a one year low of $40.29 and a one year high of $54.17. The stock’s 50-day moving average is $51.37 and its 200-day moving average is $47.91. The company has a market cap of $15.977 billion and a price-to-earnings ratio of 15.11.
Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 24th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.08. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the company posted $0.97 earnings per share. Principal Financial Group’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that Principal Financial Group will post $4.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Monday, September 8th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, September 4th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.32.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Principal Financial Group in a research note on Tuesday, July 29th. They now have a $57.00 price target on the stock, up previously from $56.00. Separately, analysts at Credit Suisse set a $54.00 price target on shares of Principal Financial Group in a research note on Friday, July 25th. They now have a “neutral” rating on the stock. Finally, analysts at Sterne Agee reiterated a “neutral” rating on shares of Principal Financial Group in a research note on Thursday, July 17th. They now have a $56.00 price target on the stock, up previously from $55.00. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $52.50.
Principal Financial Group, Inc (NYSE:PFG) is a provider of retirement savings, investment and insurance products and services.
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