Insider Selling: Principal Financial Group EVP Sells 13,745 Shares of Stock (PFG)
Principal Financial Group (NYSE:PFG) EVP Timothy Mark Dunbar sold 13,745 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $55.00, for a total value of $755,975.00. Following the transaction, the executive vice president now directly owns 36,991 shares of the company’s stock, valued at approximately $2,034,505. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on PFG. Analysts at Barclays initiated coverage on shares of Principal Financial Group in a research note on Thursday, August 28th. They set an “equal weight” rating on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $52.55.
Principal Financial Group (NYSE:PFG) traded down 0.18% on Thursday, hitting $54.18. 1,066,116 shares of the company’s stock traded hands. Principal Financial Group has a 52-week low of $41.20 and a 52-week high of $55.07. The stock has a 50-day moving average of $51.84 and a 200-day moving average of $48.33. The company has a market cap of $15.924 billion and a P/E ratio of 15.17.
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. Investors 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 2.51%. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase 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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