James P. Mccaughan Sells 20,000 Shares of Principal Financial Group Inc (PFG) Stock

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Principal Financial Group Inc (NYSE:PFG) insider James P. Mccaughan sold 20,000 shares of Principal Financial Group stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $55.42, for a total value of $1,108,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

James P. Mccaughan also recently made the following trade(s):

  • On Thursday, August 2nd, James P. Mccaughan sold 20,000 shares of Principal Financial Group stock. The stock was sold at an average price of $55.44, for a total value of $1,108,800.00.
  • On Monday, July 2nd, James P. Mccaughan sold 20,000 shares of Principal Financial Group stock. The stock was sold at an average price of $52.72, for a total value of $1,054,400.00.

NYSE PFG traded down $0.04 during trading on Thursday, hitting $55.96. The stock had a trading volume of 17,016 shares, compared to its average volume of 1,525,074. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10. Principal Financial Group Inc has a one year low of $52.31 and a one year high of $75.58.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.02). The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.58 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period in the previous year, the business earned $1.31 EPS. sell-side analysts expect that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 6th will be paid a $0.53 dividend. The ex-dividend date is Wednesday, September 5th. This represents a $2.12 annualized dividend and a yield of 3.79%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.52.

A number of hedge funds and other institutional investors have recently made changes to their positions in PFG. Itau Unibanco Holding S.A. bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $100,000. First Mercantile Trust Co. raised its stake in shares of Principal Financial Group by 101.1% during the second quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 960 shares in the last quarter. Optimum Investment Advisors bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $111,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $113,000. Finally, Dupont Capital Management Corp raised its stake in shares of Principal Financial Group by 140.2% during the second quarter. Dupont Capital Management Corp now owns 2,356 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,375 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on PFG shares. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. Morgan Stanley dropped their price target on Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Wells Fargo & Co set a $66.00 price objective on shares of Principal Financial Group and gave the stock a “hold” rating in a research note on Wednesday, May 23rd. Credit Suisse Group decreased their price objective on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. Finally, Barclays decreased their price objective on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $69.64.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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