Principal Financial Group (NYSE:PFG) EVP Wee Yee Cheong Sells 1,887 Shares

Principal Financial Group, Inc. (NYSE:PFG) EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total transaction of $160,470.48. Following the transaction, the executive vice president directly owned 81,421 shares of the company’s stock, valued at $6,924,041.84. This represents a 2.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Principal Financial Group Trading Down 0.4%

Shares of Principal Financial Group stock traded down $0.37 on Friday, reaching $84.25. 260,291 shares of the company’s stock were exchanged, compared to its average volume of 1,351,906. The firm’s 50-day moving average is $81.74 and its two-hundred day moving average is $79.62. The company has a market capitalization of $18.77 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $90.31.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the prior year, the company posted $2.05 EPS. Sell-side analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.8%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio is 46.00%.

Hedge Funds Weigh In On Principal Financial Group

Hedge funds have recently modified their holdings of the company. Ossiam grew its position in shares of Principal Financial Group by 228.9% in the 3rd quarter. Ossiam now owns 5,180 shares of the company’s stock worth $429,000 after buying an additional 3,605 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Principal Financial Group by 154.5% in the third quarter. Squarepoint Ops LLC now owns 318,555 shares of the company’s stock worth $26,411,000 after acquiring an additional 193,368 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in Principal Financial Group by 22.5% in the third quarter. Siemens Fonds Invest GmbH now owns 30,730 shares of the company’s stock valued at $2,548,000 after acquiring an additional 5,650 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in Principal Financial Group during the 3rd quarter valued at $2,248,000. Finally, NorthRock Partners LLC raised its holdings in Principal Financial Group by 6.9% in the 3rd quarter. NorthRock Partners LLC now owns 5,415 shares of the company’s stock worth $449,000 after purchasing an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler set a $94.00 target price on Principal Financial Group and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Evercore ISI lifted their price objective on shares of 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. Wells Fargo & Company raised their price target on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, October 29th. Finally, Barclays boosted their price objective on Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.90.

About Principal Financial Group

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.