Wee Yee Cheong Sells 7,534 Shares of Principal Financial Group (NASDAQ:PFG) Stock

Key Points

• Insider selling: Principal Financial Group insider Wee Yee Cheong sold 7,534 shares on May 21 at an average price of $103.16, totaling about $777,207. The transaction reduced their ownership by 10.18%.
• Recent performance and earnings: PFG shares recently traded near a 52-week high at $104.32. The company also reported quarterly EPS of $2.07, beating consensus estimates of $2.01, though revenue came in below expectations.
• Dividend and analyst view: Principal Financial Group raised its quarterly dividend to $0.82 per share, implying a 3.1% annual yield. Analysts currently have a consensus Hold rating with an average price target of $98.10.

Principal Financial Group, Inc. (NASDAQ:PFG - Get Free Report) insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $103.16, for a total transaction of $777,207.44. Following the sale, the insider owned 66,443 shares in the company, valued at approximately $6,854,259.88. This trade represents a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wee Yee Cheong also recently made the following trade(s):

• On Wednesday, May 20th, Wee Yee Cheong sold 3,211 shares of Principal Financial Group stock. The shares were sold at an average price of $103.06, for a total transaction of $330,925.66.
• On Thursday, April 30th, Wee Yee Cheong sold 4,737 shares of Principal Financial Group stock. The shares were sold at an average price of $101.01, for a total transaction of $478,484.37.
• On Friday, May 1st, Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58.
• On Wednesday, April 29th, Wee Yee Cheong sold 1,080 shares of Principal Financial Group stock. The stock was sold at an average price of $101.00, for a total transaction of $109,080.00.

Principal Financial Group Price Performance

Shares of NASDAQ PFG traded up $0.40 during trading on Friday, reaching $104.32. The company had a trading volume of 112,495 shares, compared to its average volume of 1,548,079. Principal Financial Group, Inc. has a 52 week low of $75.00 and a 52 week high of $104.68. The stock has a market cap of $22.53 billion, a PE ratio of 14.90, a PEG ratio of 0.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The business's 50 day moving average price is $94.29 and its 200-day moving average price is $91.23.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. Analysts expect that Principal Financial Group, Inc. will post 9.36 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, June 1st. Principal Financial Group's payout ratio is presently 45.78%.

Institutional Investors Weigh In On Principal Financial Group

Several large investors have recently made changes to their positions in PFG. DV Equities LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Principal Financial Group during the fourth quarter worth $26,000. Hilton Head Capital Partners LLC acquired a new position in Principal Financial Group during the fourth quarter worth $26,000. Valley Wealth Managers Inc. acquired a new position in Principal Financial Group during the first quarter worth $27,000. Finally, MBM Wealth Consultants LLC acquired a new position in Principal Financial Group during the first quarter worth $28,000. Institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PFG. UBS Group boosted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Wells Fargo & Company reduced their price target 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. Keefe, Bruyette & Woods restated a "hold" rating and issued a $92.00 price objective on shares of Principal Financial Group in a research report on Thursday, March 26th. Weiss Ratings downgraded Principal Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 1st. Finally, Morgan Stanley boosted their target price on Principal Financial Group from $95.00 to $107.00 and gave the company an "equal weight" rating in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of "Hold" and a consensus price target of $98.10.

About Principal Financial Group

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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