Key Points
- CEO Deanna Strable-Soethout sold 9,300 shares on Jan. 29 at an average price of $95.12 for $884,616, reducing her stake by 6.06% and leaving her with 144,168 shares valued at about $13.7 million.
- High institutional ownership and mixed analyst views: 75.08% of PFG is held by institutions (notable buys by Norges Bank and Bank of America), while analysts have a consensus rating of "Reduce" and a consensus price target of $92.88.
Principal Financial Group, Inc. (NYSE:PFG - Get Free Report) CEO Deanna Strable-Soethout sold 9,300 shares of Principal Financial Group stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $95.12, for a total transaction of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares of the company's stock, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Principal Financial Group Price Performance
Shares of PFG opened at $94.72 on Friday. The firm has a market capitalization of $21.10 billion, a PE ratio of 14.18, a PEG ratio of 0.76 and a beta of 0.89. The company's 50-day moving average is $89.25 and its 200-day moving average is $83.66. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $95.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.
Institutional Investors Weigh In On Principal Financial Group
Large investors have recently bought and sold shares of the company. Norges Bank bought a new position in Principal Financial Group in the 2nd quarter valued at about $227,098,000. Bank of America Corp DE boosted its position in shares of Principal Financial Group by 9.6% during the 2nd quarter. Bank of America Corp DE now owns 12,370,852 shares of the company's stock worth $982,617,000 after acquiring an additional 1,083,991 shares in the last quarter. UBS Group AG increased its stake in Principal Financial Group by 62.3% in the third quarter. UBS Group AG now owns 2,023,880 shares of the company's stock valued at $167,800,000 after acquiring an additional 776,997 shares during the last quarter. Amundi increased its stake in Principal Financial Group by 57.6% in the second quarter. Amundi now owns 1,791,246 shares of the company's stock valued at $144,213,000 after acquiring an additional 654,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Principal Financial Group by 1,048.8% during the third quarter. Assenagon Asset Management S.A. now owns 697,735 shares of the company's stock valued at $57,849,000 after purchasing an additional 637,001 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on PFG. Wells Fargo & Company boosted their price objective on Principal Financial Group from $74.00 to $85.00 and gave the stock an "underweight" rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $103.00 price target on shares of Principal Financial Group in a research note on Monday, January 5th. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Thursday, October 30th. Barclays reissued an "underweight" rating and set a $85.00 target price on shares of Principal Financial Group in a report on Thursday, January 8th. Finally, Morgan Stanley set a $93.00 price target on shares of Principal Financial Group in a research note on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $92.88.
View Our Latest Report on Principal Financial Group
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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