Deanna Strable-Soethout Sells 9,300 Shares of Principal Financial Group (NYSE:PFG) Stock

Principal Financial Group, Inc. (NYSE:PFG) CEO Deanna Strable-Soethout sold 9,300 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $95.12, for a total value of $884,616.00. Following the completion of the sale, the chief executive officer owned 144,168 shares in the company, valued at $13,713,260.16. This represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Principal Financial Group Price Performance

NYSE:PFG traded down $0.04 during trading hours on Friday, hitting $94.72. The stock had a trading volume of 1,888,233 shares, compared to its average volume of 1,559,800. The company has a 50 day simple moving average of $89.04 and a two-hundred day simple moving average of $83.57. The firm has a market capitalization of $21.10 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $95.40.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the company posted $2.05 EPS. Research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Institutional Trading of Principal Financial Group

Several large investors have recently added to or reduced their stakes in the business. Traub Capital Management LLC purchased a new position in Principal Financial Group during the second quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $26,000. Capital A Wealth Management LLC increased its holdings in Principal Financial Group by 5,533.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock worth $27,000 after acquiring an additional 332 shares in the last quarter. Curio Wealth LLC increased its holdings in Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after acquiring an additional 378 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its stake in Principal Financial Group by 343.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after acquiring an additional 268 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $103.00 price objective on shares of Principal Financial Group in a research report on Monday, January 5th. Barclays restated an “underweight” rating and set a $85.00 target price on shares of Principal Financial Group in a report on Thursday, January 8th. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $74.00 to $85.00 and gave the company an “underweight” rating in a report on Tuesday, January 13th. Finally, UBS Group upped their price objective on shares of Principal Financial Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $92.88.

Principal Financial Group Company Profile

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.