Principal Financial Group (NASDAQ:PFG) General Counsel George Djurasovic Sells 2,571 Shares

Principal Financial Group, Inc. (NASDAQ:PFG) General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the completion of the transaction, the general counsel directly owned 21,906 shares in the company, valued at $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

George Djurasovic also recently made the following trade(s):

• On Thursday, April 30th, George Djurasovic sold 1 shares of Principal Financial Group stock. The stock was sold at an average price of $99.63, for a total transaction of $99.63.

Principal Financial Group Trading Up 1.3%

NASDAQ PFG opened at $100.91 on Friday. Principal Financial Group, Inc. has a 1-year low of $73.57 and a 1-year high of $101.54. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.86 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. The firm’s fifty day simple moving average is $92.37 and its 200-day simple moving average is $89.20.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly 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 business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the business posted $1.81 earnings per share. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 9.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost 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 dividend payout ratio (DPR) is currently 45.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PFG shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a research note on Thursday, March 26th. UBS Group increased their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Wells Fargo & Company lowered their target price 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. Morgan Stanley increased their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $103.00 target price on shares of Principal Financial Group in a research report on Monday, January 5th. Two equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.33.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently bought and sold shares of the business. DV Equities LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at about $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at about $26,000. MBM Wealth Consultants LLC acquired a new stake in shares of Principal Financial Group in the first quarter valued at about $28,000. Finally, Quest 10 Wealth Builders Inc. grew its position in shares of Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after purchasing an additional 268 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Company Profile

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.