Principal Financial Group Inc (NYSE:PFG) was the target of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 3,737,339 shares, a growth of Infinity from the December 15th total of 0 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 811,134 shares, the days-to-cover ratio is currently 4.6 days.
Several research firms have commented on PFG. Zacks Investment Research lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $73.00 price objective on shares of Principal Financial Group in a research report on Monday, December 11th. Wells Fargo & Co lowered Principal Financial Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Goldman Sachs Group began coverage on Principal Financial Group in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $68.50.
In related news, insider Nora Mary Everett sold 12,398 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $843,064.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Mark Dunbar sold 16,400 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $70.23, for a total value of $1,151,772.00. The disclosure for this sale can be found here. Insiders sold a total of 369,535 shares of company stock worth $25,938,392 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Principal Financial Group (PFG) opened at $73.88 on Friday. 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 has a 52-week low of $56.12 and a 52-week high of $74.05. The company has a market capitalization of $21,330.00, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72.
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 the consensus estimate of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the business earned $1.15 earnings per share. equities research analysts anticipate that Principal Financial Group will post 5.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 4th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, December 1st. Principal Financial Group’s payout ratio is presently 32.13%.
About Principal Financial Group
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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