Traders Purchase Large Volume of Principal Financial Group Put Options (PFG)
Principal Financial Group Inc (NYSE:PFG) was the target of some unusual options trading on Wednesday. Stock investors acquired 817 put options on the company. This is an increase of Infinity compared to the average daily volume of 0 put options.
In other Principal Financial Group news, Chairman Daniel Joseph Houston sold 38,097 shares of Principal Financial Group stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $2,590,596.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Mccaughan sold 6,193 shares of Principal Financial Group stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $62.33, for a total value of $386,009.69. The disclosure for this sale can be found here. Insiders sold 143,537 shares of company stock valued at $9,313,955 over the last ninety days. Insiders own 1.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Sun Life Financial INC increased its holdings in shares of Principal Financial Group by 21,822.2% during the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,964 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Principal Financial Group during the 1st quarter worth $202,000. Eagle Global Advisors LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth $207,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth $226,000. Finally, Foster & Motley Inc. increased its holdings in shares of Principal Financial Group by 9.3% during the 2nd quarter. Foster & Motley Inc. now owns 4,014 shares of the financial services provider’s stock worth $257,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 68.25% of the company’s stock.
Principal Financial Group (PFG) opened at $68.32 on Monday. Principal Financial Group has a 52 week low of $52.67 and a 52 week high of $69.40. The firm has a market capitalization of $19,727.74, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.71. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.26.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.12 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same quarter in the previous year, the company earned $1.15 earnings per share. sell-side analysts expect that Principal Financial Group will post 5.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.87%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, December 1st. Principal Financial Group’s dividend payout ratio is presently 30.82%.
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Wells Fargo & Company set a $76.00 target price on Principal Financial Group and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) started coverage on Principal Financial Group in a research note on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price target on the stock. Morgan Stanley boosted their price target on Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $74.00 target price on shares of Principal Financial Group in a research note on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $67.40.
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Principal Financial Group Company Profile
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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