Timothy Mark Dunbar Sells 5,000 Shares of Principal Financial Group Inc. (PFG) Stock
Principal Financial Group Inc. (NYSE:PFG) EVP Timothy Mark Dunbar sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $52.00, for a total value of $260,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Principal Financial Group Inc. (NYSE:PFG) opened at 52.83 on Tuesday. The firm has a 50 day moving average price of $49.61 and a 200 day moving average price of $44.67. Principal Financial Group Inc. has a 12-month low of $33.09 and a 12-month high of $52.93. The stock has a market cap of $15.19 billion, a PE ratio of 12.56 and a beta of 1.66.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same period last year, the company earned $1.09 earnings per share. On average, equities analysts expect that Principal Financial Group Inc. will post $4.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.64 annualized dividend and a dividend yield of 3.10%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.39. Principal Financial Group’s payout ratio is presently 38.86%.
Several hedge funds have recently modified their holdings of the company. Washington Trust Bank raised its stake in shares of Principal Financial Group by 0.9% in the third quarter. Washington Trust Bank now owns 2,721 shares of the company’s stock valued at $140,000 after buying an additional 25 shares during the last quarter. Beacon Financial Group purchased a new stake in shares of Principal Financial Group during the third quarter valued at approximately $6,706,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Principal Financial Group during the second quarter valued at approximately $447,000. Kentucky Retirement Systems purchased a new stake in shares of Principal Financial Group during the second quarter valued at approximately $942,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Principal Financial Group during the second quarter valued at approximately $1,493,000. 67.13% of the stock is owned by institutional investors.
A number of brokerages have issued reports on PFG. Credit Suisse Group AG began coverage on Principal Financial Group in a research note on Friday. They issued an “underperform” rating and a $53.00 price objective for the company. Zacks Investment Research downgraded Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Wells Fargo & Co. restated an “outperform” rating on shares of Principal Financial Group in a research note on Friday, September 23rd. Goldman Sachs Group Inc. upped their price objective on Principal Financial Group from $40.00 to $45.00 and gave the company a “sell” rating in a research note on Friday, September 23rd. Finally, RBC Capital Markets set a $52.00 price objective on Principal Financial Group and gave the company a “buy” rating in a research note on Friday, August 19th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $48.73.
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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.
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