Principal Financial Group Target of Unusually Large Options Trading (PFG)
Principal Financial Group Inc (NYSE:PFG) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 817 put options on the stock. This is an increase of approximately Infinity compared to the typical daily volume of 0 put options.
Shares of Principal Financial Group (PFG) opened at $68.32 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $19.89 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.71.
Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the business earned $1.15 EPS. research analysts predict that Principal Financial Group will post 5.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, December 1st. This represents a $1.96 annualized dividend and a dividend yield of 2.87%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s dividend payout ratio (DPR) is currently 30.82%.
PFG has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 target price on the stock in a research note on Monday, October 2nd. Wells Fargo & Company set a $76.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research note on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) began coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 price target on the stock. Morgan Stanley increased their price target on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, Barclays PLC increased their price target on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $67.40.
In related news, Chairman Daniel Joseph Houston sold 38,097 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total transaction of $2,590,596.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Mccaughan sold 8,953 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $62.12, for a total transaction of $556,160.36. The disclosure for this sale can be found here. Insiders have sold 143,537 shares of company stock worth $9,313,955 in the last three months. Corporate insiders own 1.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. BerganKDV Wealth Management LLC bought a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $384,000. State of Tennessee Treasury Department increased its stake in shares of Principal Financial Group by 25.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 129,360 shares of the financial services provider’s stock worth $8,288,000 after purchasing an additional 26,432 shares during the last quarter. Swiss National Bank increased its stake in shares of Principal Financial Group by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,050,263 shares of the financial services provider’s stock worth $67,290,000 after purchasing an additional 30,900 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $2,210,000. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $2,880,000. 68.25% of the stock is currently owned by hedge funds and other institutional investors.
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About Principal Financial Group
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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