Principal Financial Group Inc (NYSE:PFG) Director Daniel Gelatt Buys 28,148 Shares of Stock

Principal Financial Group Inc (NYSE:PFG) Director Daniel Gelatt bought 28,148 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $35.52 per share, for a total transaction of $999,816.96. Following the purchase, the director now directly owns 187,741 shares in the company, valued at approximately $6,668,560.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Principal Financial Group stock opened at $41.54 on Wednesday. The company has a 50-day simple moving average of $40.03 and a two-hundred day simple moving average of $43.50. Principal Financial Group Inc has a 52-week low of $23.31 and a 52-week high of $60.81.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 1st were given a dividend of $0.56 per share. The ex-dividend date was Friday, May 29th. This represents a $2.24 annualized dividend and a dividend yield of 5.39%.

Several analysts have commented on PFG shares. UBS Group raised their price objective on shares of Principal Financial Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Bank of America started coverage on Principal Financial Group in a research report on Monday, June 1st. They set a “buy” rating on the stock. Royal Bank of Canada reissued a “hold” rating and set a $32.00 price objective on shares of Principal Financial Group in a research report on Monday, April 27th. Goldman Sachs Group downgraded shares of Principal Financial Group from a “neutral” rating to a “sell” rating and set a $38.00 target price on the stock. in a research report on Thursday, June 18th. Finally, Piper Sandler decreased their price target on shares of Principal Financial Group from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, April 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.86.

Several hedge funds have recently made changes to their positions in PFG. Migdal Insurance & Financial Holdings Ltd. grew its position in Principal Financial Group by 6.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,984 shares of the financial services provider’s stock valued at $164,000 after buying an additional 193 shares during the period. Utah Retirement Systems grew its stake in shares of Principal Financial Group by 0.4% during the 4th quarter. Utah Retirement Systems now owns 52,613 shares of the financial services provider’s stock valued at $2,894,000 after acquiring an additional 200 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Principal Financial Group by 0.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 56,950 shares of the financial services provider’s stock worth $1,785,000 after acquiring an additional 311 shares in the last quarter. MML Investors Services LLC raised its stake in Principal Financial Group by 5.0% during the 1st quarter. MML Investors Services LLC now owns 6,893 shares of the financial services provider’s stock worth $216,000 after acquiring an additional 326 shares during the period. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in Principal Financial Group by 1.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 22,996 shares of the financial services provider’s stock valued at $1,265,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

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. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Insider Buying and Selling by Quarter for Principal Financial Group (NYSE:PFG)

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