Principal Financial Group, Inc. (NASDAQ:PFG) EVP Wee Yee Cheong Sells 10,000 Shares

Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) EVP Wee Yee Cheong sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the transaction, the executive vice president now directly owns 37,093 shares of the company’s stock, valued at $2,633,603. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PFG traded up $0.62 on Wednesday, hitting $70.96. 1,808,903 shares of the company were exchanged, compared to its average volume of 1,769,417. Principal Financial Group, Inc. has a 12 month low of $58.66 and a 12 month high of $80.36. The company has a market cap of $17.93 billion, a PE ratio of 12.17, a PEG ratio of 1.30 and a beta of 1.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.10 and a current ratio of 0.10. The stock’s fifty day moving average is $71.77 and its 200-day moving average is $71.86.

Principal Financial Group (NASDAQ:PFGGet Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.07. Principal Financial Group had a return on equity of 12.25% and a net margin of 11.08%. During the same period last year, the business earned $1.53 EPS. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 6.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Thursday, June 2nd will be paid a $0.64 dividend. The ex-dividend date is Wednesday, June 1st. This represents a $2.56 annualized dividend and a yield of 3.61%. Principal Financial Group’s dividend payout ratio is 43.91%.

A number of research analysts have issued reports on the company. Jefferies Financial Group started coverage on Principal Financial Group in a research note on Tuesday, January 25th. They issued an “underperform” rating and a $62.00 target price for the company. Citigroup started coverage on Principal Financial Group in a research report on Monday. They set a “sell” rating and a $63.00 price objective for the company. Royal Bank of Canada reduced their price objective on Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating for the company in a research report on Thursday, March 3rd. Morgan Stanley reduced their price objective on Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, March 3rd. Finally, Barclays upped their price objective on Principal Financial Group from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $73.33.

A number of large investors have recently added to or reduced their stakes in the business. Concord Wealth Partners raised its stake in Principal Financial Group by 3.1% in the first quarter. Concord Wealth Partners now owns 4,751 shares of the company’s stock valued at $349,000 after buying an additional 145 shares during the period. Synovus Financial Corp increased its stake in shares of Principal Financial Group by 2.7% during the fourth quarter. Synovus Financial Corp now owns 5,605 shares of the company’s stock worth $403,000 after purchasing an additional 145 shares during the period. CIBC Asset Management Inc increased its stake in shares of Principal Financial Group by 0.6% during the first quarter. CIBC Asset Management Inc now owns 25,225 shares of the company’s stock worth $1,852,000 after purchasing an additional 155 shares during the period. Allworth Financial LP increased its stake in shares of Principal Financial Group by 4.0% during the fourth quarter. Allworth Financial LP now owns 4,353 shares of the company’s stock worth $315,000 after purchasing an additional 166 shares during the period. Finally, CVA Family Office LLC increased its stake in shares of Principal Financial Group by 29.3% during the first quarter. CVA Family Office LLC now owns 750 shares of the company’s stock worth $55,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 77.69% of the company’s stock.

Principal Financial Group Company Profile (Get Rating)

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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