Key Points
- Deanna Strable-Soethout, CEO of Principal Financial Group (NYSE:PFG), sold 300 shares on Jan. 8 at an average price of $92.50 for $27,750, reducing her stake by 0.48% to 62,252 shares (≈$5.76M); the sale was disclosed in an SEC filing.
- Principal raised its quarterly dividend to $0.79 (annualized $3.16), up from $0.78, yielding about 3.5% with a payout ratio of 46% (paid Dec. 19; ex-dividend Dec. 3).
- Shares trade near their 52-week high ($68.39–$92.51) with a market cap of $20.09B and a PE of 13.5; analysts are mixed—MarketBeat shows a consensus "Reduce" rating with a $91.60 price target (1 Buy, 7 Hold, 2 Sell).
Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) CEO Deanna Strable-Soethout sold 300 shares of the firm's stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $92.50, for a total value of $27,750.00. Following the sale, the chief executive officer directly owned 62,252 shares of the company's stock, valued at $5,758,310. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Principal Financial Group Stock Performance
Shares of Principal Financial Group stock opened at $90.20 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock's fifty day moving average is $86.93 and its two-hundred day moving average is $82.64. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $92.51. The company has a market capitalization of $20.09 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89.
Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the company earned $2.05 earnings per share. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.
Principal Financial Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd were paid a $0.79 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 3.5%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.78. Principal Financial Group's payout ratio is currently 46.00%.
Institutional Investors Weigh In On Principal Financial Group
A number of hedge funds have recently made changes to their positions in PFG. Kingstone Capital Partners Texas LLC purchased a new position in shares of Principal Financial Group during the second quarter worth $3,269,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Principal Financial Group by 3.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,037 shares of the company's stock worth $1,989,000 after purchasing an additional 814 shares during the period. LVW Advisors LLC purchased a new position in shares of Principal Financial Group during the 2nd quarter valued at about $297,000. Verdence Capital Advisors LLC lifted its holdings in shares of Principal Financial Group by 98.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 8,639 shares of the company's stock valued at $686,000 after buying an additional 4,276 shares during the period. Finally, Capital Fund Management S.A. acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at about $1,486,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Barclays reiterated an "underweight" rating and issued a $85.00 price target on shares of Principal Financial Group in a report on Thursday. Wells Fargo & Company upped their target price on Principal Financial Group from $73.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, October 29th. Evercore ISI raised their price target on Principal Financial Group from $92.00 to $94.00 and gave the company an "in-line" rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $103.00 price objective on shares of Principal Financial Group in a research note on Monday, January 5th. Finally, Piper Sandler raised their target price on shares of Principal Financial Group from $94.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Reduce" and a consensus price target of $91.60.
Get Our Latest Analysis on PFG
Principal Financial Group Company Profile
(
Get Free Report)
Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.
On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.
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