Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Principal Financial Group Inc. shares valued at $191,967 were sold by Cheong Wee Yee on Sep 13. At $78.45 per share, Cheong Wee Yee sold 2,447 shares. The insider’s holdings dropped to 34,700 shares worth approximately $2.62 million following the completion of this transaction.
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Also, Walker Roberto sold 9,000 shares, netting a total of over 692,550 in proceeds. Following the sale of shares at $76.95 each, the insider now holds 34,008 shares.
Before that, Walker Roberto had sold 12,975 shares from its account. In a trade valued at $1,012,569, the EVP, Principal Latin American traded Principal Financial Group Inc. shares for $78.04 each. Upon closing the transaction, the insider’s holdings decreased to 12,975 shares, worth approximately $3.24 million.
As published in their initiating research note from Raymond James on September 22, 2022, Principal Financial Group Inc. [PFG] has been a Mkt perform. Analysts at Credit Suisse downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of May 24, 2022, Citigroup has initiated its “Sell” rating for PFG. Earlier on January 26, 2022, Jefferies initiated its rating. Their recommendation was “an Underperform” for PFG stock.
Analyzing PFG’s Price Performance
On Thursday, Principal Financial Group Inc. [NASDAQ: PFG] plunged -0.84% to $75.42. The stock’s lowest price that day was $75.27, but it reached a high of $76.48 in the same session. During the last five days, there has been a drop of approximately -2.65%. Over the course of the year, Principal Financial Group Inc. shares have jumped approximately 4.27%. Shares of the company reached a 52-week high of $80.36 on 02/10/22 and a 52-week low of $61.05 on 07/14/22. A 50-day SMA is recorded $72.71, while a 200-day SMA reached $71.51. Nevertheless, trading volume fell to 1.51 million shares from 1.63 million shares the previous day.
Support And Resistance Levels for Principal Financial Group Inc. (PFG)
According to the 24-hour chart, there is a support level at 74.97, which, if violated, would cause prices to drop to 74.51. In the upper region, resistance lies at 76.18. The next price resistance is at 76.93. RSI (Relative Strength Index) is 48.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.63, which suggests the price will decrease in the coming days. Percent R is at 65.96%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Principal Financial Group Inc. subject to short interest?
Stocks of Principal Financial Group Inc. saw a sharp rise in short interest on Aug 30, 2022 jumping by 0.15 million shares to 10.61 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 10.46 million shares. A jump of 1.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.82 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.82.
Which companies own the most shares of Principal Financial Group Inc. (PFG)?
According to The Vanguard Group, Inc. filings, the company currently owns 27,600,994 shares, which is about 11.07% of the total PFG shares outstanding. The investor’s shares have plunged by -399,493 from its previous 13-F filing of 28000487.0 shares. With the completion of the sale transaction, Nissay Asset Management Corp.’s stake is now worth $1,357,968,376. BlackRock Fund Advisors reduced a -0.80% interest valued at $1.21 billion while Managed Account Advisors LLC purchased a 4,665,608 stake. A total of -866,082 shares of Principal Financial Group Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -1,164,729 were sold by Capital Research & Management Co. In its current portfolio, Geode Capital Management LLC holds 4,940,995 shares valued at $369.39 million.
In terms of Principal Financial Group Inc. share price expectations, FactSet research, analysts set an average price target of $72.57 in the next 12 months, down nearly -1.39% from the previous closing price of $76.06. Analysts anticipate Principal Financial Group Inc. stock to reach $86.00 by 2022, with the lowest price target being $59.00. In spite of this, 16 analysts ranked Principal Financial Group Inc. stock as a Hold at the end of 2022. On January 21, 2022, Wolfe Research assigned a price target of “a Peer perform” to the stock and initiated coverage with a $79.