Deanna Strable-Soethout, the Chief Executive Officer of Principal Financial Group, executed the sale of 8,025 shares of the company’s stock on January 22, 2024. The shares were sold at an average price of $92.56, totaling $742,794.00. Following this transaction, Strable-Soethout’s ownership in the company decreased to 54,227 shares, valued at approximately $5,019,251.12, reflecting a decline of 12.89% in her position. This transaction was reported in a filing with the Securities and Exchange Commission (SEC), which is available on the SEC’s official website.
Current Stock Performance
On the trading day following the sale, shares of Principal Financial Group (NYSE: PFG) rose by $1.13, reaching a price of $92.34. The trading volume for the day stood at 305,628 shares, significantly lower than the average volume of 1,411,003 shares. Over the past year, the stock has fluctuated, with a 52-week low of $68.39 and a high of $92.78. The company currently holds a market capitalization of $20.57 billion and has key financial ratios including a price-to-earnings (P/E) ratio of 13.84, a price-to-earnings-growth (PEG) ratio of 0.76, and a beta of 0.89.
Principal Financial Group’s liquidity measures reveal a quick ratio of 0.30 and a current ratio of 0.29, while its debt-to-equity ratio is 0.36. The company’s fifty-day simple moving average stands at $88.13, with a 200-day simple moving average of $83.25.
Recent Earnings and Analyst Ratings
In its latest earnings report released on October 27, 2023, Principal Financial Group announced earnings per share (EPS) of $2.32 for the quarter, surpassing analysts’ expectations of $2.20 by $0.12. The company reported a net margin of 9.74% and a return on equity of 14.68%. In the same quarter last year, the firm had reported EPS of $2.05. Analysts predict that Principal Financial Group will achieve an EPS of 8.5 for the current financial year.
Recent assessments from various brokerages have adjusted their ratings for Principal Financial Group. Piper Sandler raised its price target from $94.00 to $100.00, assigning the stock an “overweight” rating on December 23, 2023. Morgan Stanley set a target price of $93.00, while UBS Group increased its target from $88.00 to $92.00, maintaining a “neutral” rating. Wells Fargo & Company adjusted their target from $74.00 to $85.00, rating the stock as “underweight.” Meanwhile, Keefe, Bruyette & Woods raised its price objective from $90.00 to $91.00 and rated the stock as “market perform.”
As it stands, one investment analyst has assigned a Buy rating to the stock, while five have given it a Hold rating and two have assigned Sell ratings. According to data from MarketBeat.com, the stock currently holds a consensus rating of “Reduce” with a target price averaging $92.88.
Principal Financial Group is a global financial services firm headquartered in Des Moines, Iowa. It specializes in offering a wide range of financial solutions, including retirement plans, investment management, and insurance. The company is recognized for its commitment to helping clients manage their retirement savings through various products such as 401(k) plans and individual retirement accounts.
