Principal Financial Group (NYSE:PFG) CEO Deanna Strable-Soethout Sells 8,025 Shares

Principal Financial Group, Inc. (NYSE:PFG) CEO Deanna Strable-Soethout sold 8,025 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $92.56, for a total value of $742,794.00. Following the sale, the chief executive officer directly owned 54,227 shares of the company’s stock, valued at approximately $5,019,251.12. This trade represents a 12.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Principal Financial Group Trading Up 1.2%

NYSE PFG traded up $1.13 during mid-day trading on Monday, hitting $92.34. The company’s stock had a trading volume of 305,628 shares, compared to its average volume of 1,411,003. The firm has a market capitalization of $20.57 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $92.78. The stock’s fifty day simple moving average is $88.13 and its two-hundred day simple moving average is $83.25.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period last year, the company earned $2.05 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Principal Financial Group during the 4th quarter worth approximately $26,000. Traub Capital Management LLC acquired a new position in Principal Financial Group in the second quarter worth $26,000. Capital A Wealth Management LLC increased its stake in Principal Financial Group by 5,533.3% during the second quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after purchasing an additional 332 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of Principal Financial Group during the second quarter worth $28,000. Finally, Curio Wealth LLC lifted its holdings in Principal Financial Group by 37,800.0% in the second quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after acquiring an additional 378 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFG has been the subject of several analyst reports. Morgan Stanley set a $93.00 target price on Principal Financial Group in a research report on Monday, December 15th. Piper Sandler lifted their price objective on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Keefe, Bruyette & Woods raised their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $74.00 to $85.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 13th. Finally, Barclays reissued an “underweight” rating and issued a $85.00 price objective on shares of Principal Financial Group in a research report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Reduce” and an average target price of $92.88.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.