Insider Selling: Principal Financial Group Insider Unloads 20,575 Shares of Stock (PFG)
Principal Financial Group (NYSE:PFG) Insider Daniel Joseph Houston sold 20,575 shares of the stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $54.00, for a total value of $1,111,050.00. Following the sale, the insider now directly owns 109,029 shares of the company’s stock, valued at approximately $5,887,566. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.50.
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 1-year low of $40.29 and a 1-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 posted its quarterly earnings results on Thursday, July 24th. The company reported $1.08 earnings per share for the quarter, beating the analysts’ 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 announced a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, September 4th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.32.
Principal Financial Group, Inc (NYSE:PFG) is a provider of retirement savings, investment and insurance products and services.
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