Principal Financial Group (NASDAQ:PFG) General Counsel Sells $259,233.93 in Stock

Key Points

• Principal Financial Group General Counsel George Djurasovic sold 2,571 shares on April 28 at an average price of $100.83 for a total of $259,233.93, reducing his position by 10.5% to 21,906 shares.
• Shares rose about 1.3% to $100.91 after the quarter in which PFG beat EPS estimates ($2.07 vs. $2.01) but missed revenue expectations, and the company raised its quarterly dividend to $0.82 (annualized $3.28, ~3.3% yield; ex-dividend June 1).
• Analysts hold an average "Hold" rating with a $95.33 target; the company has a market cap of $21.86 billion, a P/E of 14.44, and roughly 75% institutional ownership.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) General Counsel George Djurasovic sold 2,571 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel owned 21,906 shares of the company's stock, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

George Djurasovic also recently made the following trade(s):

• On Thursday, April 30th, George Djurasovic sold 1 shares of Principal Financial Group stock. The shares were sold at an average price of $99.63, for a total transaction of $99.63.

Principal Financial Group Stock Up 1.3%

Shares of Principal Financial Group stock traded up $1.28 on Thursday, hitting $100.91. The company had a trading volume of 1,256,765 shares, compared to its average volume of 1,646,990. The firm 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 twelve month low of $73.57 and a twelve month high of $101.54. 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 stock has a 50-day moving average of $92.20 and a 200-day moving average of $89.12.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same quarter in the prior year, the company earned $1.81 earnings per share. Research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.3%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.80. The ex-dividend date is Monday, June 1st. Principal Financial Group's dividend payout ratio is currently 46.92%.

Institutional Trading of Principal Financial Group

A number of institutional investors have recently made changes to their positions in the business. DV Equities LLC bought a new stake in Principal Financial Group during the fourth quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Principal Financial Group during the fourth quarter worth $26,000. Hilton Head Capital Partners LLC bought a new stake in Principal Financial Group during the fourth quarter worth $26,000. MBM Wealth Consultants LLC bought a new stake in Principal Financial Group during the first quarter worth $28,000. Finally, Quest 10 Wealth Builders Inc. raised its position in Principal Financial Group by 343.6% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company's stock worth $30,000 after acquiring an additional 268 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $103.00 price objective on shares of Principal Financial Group in a research report on Monday, January 5th. Wells Fargo & Company cut their price objective on shares of Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Friday, April 10th. Barclays boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock an "underweight" rating in a research report on Friday, April 24th. Finally, Bank of America cut their price objective on shares of Principal Financial Group from $96.00 to $92.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $95.33.

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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