Insider Selling: Principal Financial Group Inc (PFG) Insider Sells 47,662 Shares of Stock
Principal Financial Group Inc (NYSE:PFG) insider Luis E. Valdes sold 47,662 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $70.04, for a total value of $3,338,246.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Principal Financial Group Inc (NYSE PFG) traded down $0.36 during midday trading on Friday, hitting $69.89. The stock had a trading volume of 1,089,200 shares, compared to its average volume of 1,110,032. The company has a market capitalization of $20,370.00, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group Inc has a 1 year low of $56.12 and a 1 year high of $72.23.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. 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 previous year, the company posted $1.15 earnings per share. sell-side analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.
A number of research firms recently commented on PFG. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $73.00 price objective on shares of Principal Financial Group in a research report on Monday. Wells Fargo & Company set a $79.00 price objective on Principal Financial Group and gave the company a “buy” rating in a research report on Thursday, December 7th. Goldman Sachs Group began coverage on Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price objective for the company. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Morgan Stanley upped their price target on Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $68.20.
A number of hedge funds have recently modified their holdings of PFG. Parametric Portfolio Associates LLC raised its holdings in shares of Principal Financial Group by 8.3% in the third quarter. Parametric Portfolio Associates LLC now owns 845,846 shares of the financial services provider’s stock worth $54,422,000 after buying an additional 64,811 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Principal Financial Group during the 3rd quarter worth $379,000. GSA Capital Partners LLP increased its holdings in Principal Financial Group by 19.4% during the 3rd quarter. GSA Capital Partners LLP now owns 14,376 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 2,332 shares during the period. Archford Capital Strategies LLC increased its holdings in Principal Financial Group by 7.0% during the 3rd quarter. Archford Capital Strategies LLC now owns 19,084 shares of the financial services provider’s stock worth $1,228,000 after purchasing an additional 1,245 shares during the period. Finally, Belpointe Asset Management LLC purchased a new position in Principal Financial Group during the 3rd quarter worth $465,000. Institutional investors and hedge funds own 68.76% of the company’s stock.
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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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