Insider Selling: Principal Financial Group (NASDAQ:PFG) Insider Sells 1,080 Shares of Stock

Key Points

• Insider sale: Wee Yee Cheong sold 1,080 PFG shares on April 29 at an average of $101 for $109,080, trimming their stake by 1.17% to 91,108 shares.
• Quarterly results and dividend: PFG reported $2.07 EPS (above the $2.01 estimate) but missed revenue ($3.53B vs. $4.11B est.), and raised its quarterly dividend to $0.82 (annualized $3.28, ~3.3% yield; ex-dividend June 1, payable June 26).
• Market/analyst view: The stock trades near its 52-week high (~$101) with a market cap around $21.9B and a P/E of 14.4, while analysts hold a consensus "Hold" rating and an average target of $95.33.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) insider Wee Yee Cheong sold 1,080 shares of Principal Financial Group stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $101.00, for a total value of $109,080.00. Following the completion of the sale, the insider directly owned 91,108 shares of the company's stock, valued at approximately $9,201,908. This trade represents a 1.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Principal Financial Group Price Performance

PFG stock traded up $1.28 during mid-day trading on Thursday, reaching $100.91. 1,256,765 shares of the company traded hands, compared to its average volume of 1,646,990. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.24 and a quick ratio of 0.27. The company has a market capitalization of $21.86 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.94 and a beta of 0.87. Principal Financial Group, Inc. has a 52-week low of $73.57 and a 52-week high of $101.54. The company has a fifty day moving average price of $92.20 and a 200-day moving average price of $89.12.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the previous year, the firm earned $1.81 EPS. As a group, analysts anticipate that Principal Financial Group, Inc. will post 9.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, June 1st. This is a boost from Principal Financial Group's previous quarterly dividend of $0.80. Principal Financial Group's payout ratio is presently 46.92%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PFG shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $103.00 target price on shares of Principal Financial Group in a report on Monday, January 5th. Evercore set a $108.00 target price on Principal Financial Group in a report on Monday. Wells Fargo & Company reduced their target price on Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating for the company in a report on Friday, April 10th. Morgan Stanley lifted their target price on Principal Financial Group from $93.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. Finally, Bank of America reduced their target price on Principal Financial Group from $96.00 to $92.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $95.33.

Institutional Trading of Principal Financial Group

A number of large investors have recently modified their holdings of PFG. Capital Management Corp VA lifted its position in Principal Financial Group by 19.2% in the 3rd quarter. Capital Management Corp VA now owns 172,736 shares of the company's stock worth $14,322,000 after buying an additional 27,857 shares during the last quarter. Nordea Investment Management AB lifted its position in Principal Financial Group by 160.3% in the 3rd quarter. Nordea Investment Management AB now owns 48,902 shares of the company's stock worth $3,978,000 after buying an additional 30,118 shares during the last quarter. Mediolanum International Funds Ltd lifted its position in Principal Financial Group by 41.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company's stock worth $10,504,000 after buying an additional 37,357 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in Principal Financial Group in the 3rd quarter worth approximately $18,526,000. Finally, Teacher Retirement System of Texas lifted its position in Principal Financial Group by 21.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 215,843 shares of the company's stock worth $17,896,000 after buying an additional 37,676 shares during the last quarter. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Company Profile

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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