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Daniel Gelatt Acquires 28,148 Shares of Principal Financial Group Inc (NYSE:PFG) Stock

Tuesday, June 30, 2020 | MarketBeat

Principal Financial Group Inc (NYSE:PFG) Director Daniel Gelatt acquired 28,148 shares of Principal Financial Group stock in a transaction on Friday, June 26th. The shares were bought at an average cost of $35.52 per share, with a total value of $999,816.96. Following the completion of the transaction, the director now owns 187,741 shares of the company's stock, valued at $6,668,560.32. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

PFG stock traded up $1.19 during midday trading on Tuesday, reaching $41.54. The company had a trading volume of 2,154,409 shares, compared to its average volume of 1,896,703. The stock has a 50 day moving average price of $40.03 and a 200-day moving average price of $43.50. Principal Financial Group Inc has a 1-year low of $23.31 and a 1-year high of $60.81.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.15 EPS for the quarter, beating the Zacks' consensus estimate of $1.13 by $0.02. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the firm earned $1.43 EPS.

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date was Friday, May 29th.

PFG has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Principal Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Friday, April 3rd. Morgan Stanley reduced their target price on shares of Principal Financial Group from $57.00 to $37.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 17th. Bank of America started coverage on shares of Principal Financial Group in a research report on Monday, June 1st. They issued a "buy" rating for the company. Goldman Sachs Group cut shares of Principal Financial Group from a "neutral" rating to a "sell" rating and set a $38.00 target price for the company. in a research report on Thursday, June 18th. Finally, UBS Group boosted their target price on shares of Principal Financial Group from $35.00 to $36.00 and gave the company a "neutral" rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Principal Financial Group has a consensus rating of "Hold" and a consensus price target of $44.86.

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Principal Financial Group during the fourth quarter worth about $160,377,000. Prudential PLC acquired a new position in Principal Financial Group during the first quarter worth about $50,645,000. Capital Research Global Investors raised its stake in Principal Financial Group by 4.8% during the fourth quarter. Capital Research Global Investors now owns 14,274,750 shares of the financial services provider's stock worth $785,111,000 after acquiring an additional 658,772 shares in the last quarter. Squarepoint Ops LLC raised its stake in Principal Financial Group by 1,041.8% during the first quarter. Squarepoint Ops LLC now owns 499,995 shares of the financial services provider's stock worth $15,670,000 after acquiring an additional 456,206 shares in the last quarter. Finally, Prana Capital Management LP acquired a new position in Principal Financial Group during the fourth quarter worth about $20,937,000. 68.64% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Insider Buying and Selling by Quarter for Principal Financial Group (NYSE:PFG)

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