Principal Financial Group Inc (PFG) Insider James P. Mccaughan Sells 8,953 Shares
Principal Financial Group Inc (NYSE:PFG) insider James P. Mccaughan sold 8,953 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $62.12, for a total transaction of $556,160.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
James P. Mccaughan also recently made the following trade(s):
- On Tuesday, September 5th, James P. Mccaughan sold 60,814 shares of Principal Financial Group stock. The stock was sold at an average price of $62.10, for a total transaction of $3,776,549.40.
- On Friday, August 4th, James P. Mccaughan sold 60,817 shares of Principal Financial Group stock. The stock was sold at an average price of $66.98, for a total transaction of $4,073,522.66.
- On Wednesday, July 5th, James P. Mccaughan sold 60,816 shares of Principal Financial Group stock. The stock was sold at an average price of $64.43, for a total transaction of $3,918,374.88.
Shares of Principal Financial Group Inc (PFG) traded up 1.25% during trading on Friday, hitting $60.67. 1,024,311 shares of the stock were exchanged. Principal Financial Group Inc has a 52 week low of $47.56 and a 52 week high of $67.73. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 13.79 and a beta of 1.66. The stock’s 50 day moving average price is $64.60 and its 200 day moving average price is $63.80.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $1.15 EPS. On average, equities analysts predict that Principal Financial Group Inc will post $5.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 3.14%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio (DPR) is currently 42.73%.
Principal Financial Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 17th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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PFG has been the topic of a number of research reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Barclays PLC boosted their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 target price on shares of Principal Financial Group in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $73.00 target price on shares of Principal Financial Group in a research note on Wednesday, July 12th. Finally, BidaskClub cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.78.
A number of institutional investors have recently made changes to their positions in the business. Cookson Peirce & Co. Inc. grew its holdings in Principal Financial Group by 0.8% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock worth $427,000 after acquiring an additional 50 shares during the last quarter. Advisory Services Network LLC grew its holdings in Principal Financial Group by 29.8% in the 2nd quarter. Advisory Services Network LLC now owns 11,463 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 2,635 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Principal Financial Group in the 2nd quarter worth $659,000. Koch Industries Inc. bought a new stake in Principal Financial Group in the 2nd quarter worth $210,000. Finally, Verition Fund Management LLC bought a new stake in Principal Financial Group in the 2nd quarter worth $539,000. 68.19% of the stock is currently owned by institutional investors and hedge funds.
Principal Financial Group Company Profile
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.
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