Principal Financial Group (PFG) Shares Down 5.2%

Principal Financial Group Inc (NYSE:PFG)’s share price dropped 5.2% during mid-day trading on Thursday . The company traded as low as $55.52 and last traded at $55.62. Approximately 1,475,894 shares traded hands during trading, a decline of 2% from the average daily volume of 1,511,821 shares. The stock had previously closed at $58.66.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Wednesday, September 26th. UBS Group lifted their price objective on shares of Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Credit Suisse Group lowered their price objective on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Finally, Barclays lowered their price objective on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, July 9th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Principal Financial Group has an average rating of “Hold” and an average price target of $66.40.

The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 26th. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the business posted $1.31 EPS. Analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Thursday, September 6th were issued a $0.53 dividend. The ex-dividend date was Wednesday, September 5th. This represents a $2.12 dividend on an annualized basis and a yield of 3.84%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.52.

In other Principal Financial Group news, insider Amy Christine Friedrich sold 1,700 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $61.00, for a total value of $103,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Mccaughan sold 20,000 shares of Principal Financial Group stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $55.44, for a total value of $1,108,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,700 shares of company stock valued at $2,320,900. 1.50% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in Principal Financial Group by 5.1% in the 1st quarter. Russell Investments Group Ltd. now owns 212,131 shares of the financial services provider’s stock valued at $12,829,000 after buying an additional 10,343 shares during the period. Stifel Financial Corp grew its holdings in Principal Financial Group by 5.6% in the 1st quarter. Stifel Financial Corp now owns 25,555 shares of the financial services provider’s stock valued at $1,567,000 after buying an additional 1,359 shares during the period. Baird Financial Group Inc. grew its holdings in Principal Financial Group by 75.2% in the 1st quarter. Baird Financial Group Inc. now owns 26,372 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 11,321 shares during the period. A.R.T. Advisors LLC purchased a new stake in Principal Financial Group in the 1st quarter valued at about $1,516,000. Finally, Ostrum Asset Management purchased a new stake in Principal Financial Group in the 1st quarter valued at about $371,000. 68.64% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Company Profile (NYSE:PFG)

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.

See Also: Cash Flow

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