Principal Financial Group (NASDAQ:PFG) Insider Sells $777,207.44 in Stock

Principal Financial Group, Inc. (NASDAQ:PFG) insider Wee Yee Cheong sold 7,534 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the sale, the insider owned 66,443 shares of the company’s stock, valued at approximately $6,854,259.88. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 value 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 value 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 value of $929,870.58.
• On Wednesday, April 29th, Wee Yee Cheong sold 1,080 shares of Principal Financial Group stock. The shares were sold at an average price of $101.00, for a total value of $109,080.00.

Principal Financial Group Price Performance

Shares of NASDAQ:PFG opened at $103.85 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $94.61 and a two-hundred day moving average of $91.38. The stock has a market cap of $22.43 billion, a P/E ratio of 14.86, a PEG ratio of 0.98 and a beta of 0.89. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $104.68.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.01 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the prior year, the company posted $1.81 EPS. On average, research 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. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s dividend payout ratio (DPR) is currently 45.78%.

Hedge Funds Weigh In On Principal Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Prosperity Consulting Group LLC raised its position in Principal Financial Group by 1.6% in the 1st quarter. Prosperity Consulting Group LLC now owns 6,921 shares of the company’s stock valued at $624,000 after purchasing an additional 111 shares in the last quarter. Aptus Capital Advisors LLC raised its position in shares of Principal Financial Group by 3.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock worth $286,000 after acquiring an additional 118 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Principal Financial Group by 7.6% during the 4th quarter. Parallel Advisors LLC now owns 1,686 shares of the company’s stock worth $149,000 after acquiring an additional 119 shares in the last quarter. Blue Trust Inc. raised its position in shares of Principal Financial Group by 14.8% during the 1st quarter. Blue Trust Inc. now owns 921 shares of the company’s stock worth $83,000 after acquiring an additional 119 shares in the last quarter. Finally, Beacon Financial Group raised its position in shares of Principal Financial Group by 2.8% during the 1st quarter. Beacon Financial Group now owns 4,451 shares of the company’s stock worth $401,000 after acquiring an additional 120 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PFG. Barclays increased their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th. Raymond James Financial cut Principal Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from $99.00 to $111.00 in a report on Tuesday, May 19th. Evercore set a $108.00 price target on Principal Financial Group in a report on Monday, April 27th. Finally, Wells Fargo & Company lowered their price target on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and an average target price 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.