Principal Financial Group Inc (NYSE:PFG) insider James P. Mccaughan sold 60,817 shares of Principal Financial Group stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $66.98, for a total value of $4,073,522.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
James P. Mccaughan also recently made the following trade(s):
- On Wednesday, July 5th, James P. Mccaughan sold 60,816 shares of Principal Financial Group stock. The shares were sold at an average price of $64.43, for a total value of $3,918,374.88.
- On Tuesday, June 6th, James P. Mccaughan sold 65,818 shares of Principal Financial Group stock. The shares were sold at an average price of $63.53, for a total value of $4,181,417.54.
Principal Financial Group Inc (NYSE:PFG) opened at 66.23 on Wednesday. The stock has a 50 day moving average price of $65.45 and a 200 day moving average price of $63.11. Principal Financial Group Inc has a 1-year low of $46.40 and a 1-year high of $67.73. The stock has a market cap of $19.11 billion, a PE ratio of 15.06 and a beta of 1.65.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.09. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter last year, the business posted $1.15 EPS. On average, analysts predict that Principal Financial Group Inc will post $5.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.84%. 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 presently 41.82%.
Principal Financial Group declared that its board has authorized a share buyback plan on Wednesday, May 17th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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Several equities research analysts have commented on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a report on Thursday, August 3rd. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, August 1st. BidaskClub downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.22.
Several institutional investors have recently added to or reduced their stakes in the stock. Iowa State Bank raised its position in Principal Financial Group by 1.5% in the first quarter. Iowa State Bank now owns 99,466 shares of the financial services provider’s stock worth $6,277,000 after buying an additional 1,494 shares during the last quarter. CENTRAL TRUST Co raised its position in Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares during the last quarter. ProShare Advisors LLC raised its position in Principal Financial Group by 3.5% in the first quarter. ProShare Advisors LLC now owns 94,515 shares of the financial services provider’s stock worth $5,965,000 after buying an additional 3,162 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Principal Financial Group by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 230,858 shares of the financial services provider’s stock worth $14,570,000 after buying an additional 6,913 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Principal Financial Group by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,672 shares of the financial services provider’s stock worth $453,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 70.45% of the company’s stock.
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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