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 $80,020 were sold by HELTON SANDRA L on Oct 19. At $80.02 per share, HELTON SANDRA L sold 1,000 shares. The insider’s holdings dropped to 35,747 shares worth approximately $3.08 million following the completion of this transaction.
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Also, HELTON SANDRA L sold 14,033 shares, netting a total of over 1,123,342 in proceeds. Following the sale of shares at $80.05 each, the insider now holds 18,245 shares.
Before that, Cheong Wee Yee had sold 2,447 shares from its account. In a trade valued at $191,967, the EVP, Principal Asia traded Principal Financial Group Inc. shares for $78.45 each. Upon closing the transaction, the insider’s holdings decreased to 2,447 shares, worth approximately $2.99 million.
As published in a research note from Credit Suisse on December 08, 2022, Principal Financial Group Inc. [PFG] has been rated down from a Neutral to an Underperform and the price target has been revised to $86. This represents a -0.21% premium over Thursday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid November. As of November 17, 2022, Evercore ISI has decreased its “an In-line” rating to a “an Underperform” for PFG. Earlier on November 01, 2022, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for PFG stock which previously was a “an Overweight”.
Analyzing PFG Stock Performance
On Thursday, Principal Financial Group Inc. [NASDAQ: PFG] plunged -5.54% to $86.18. The stock’s lowest price that day was $82.10, but it reached a high of $89.15 in the same session. During the last five days, there has been a drop of approximately -3.11%. Over the course of the year, Principal Financial Group Inc. shares have jumped approximately 2.69%. Shares of the company reached a 52-week high of $93.87 on 02/08/23 and a 52-week low of $82.10 on 03/02/23. A 50-day SMA is recorded $88.82, while a 200-day SMA reached $79.41. Nevertheless, trading volume fell to 4.94 million shares from 2.16 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 82.47, which, if violated, would cause prices to drop to 78.76. In the upper region, resistance lies at 89.52. The next price resistance is at 92.86. RSI (Relative Strength Index) is 38.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.95, which suggests the price will decrease in the coming days. Percent R is at 63.08%, 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 steep in short interest on Jan 12, 2023 dropping by -0.41 million shares to 9.27 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 9.68 million shares. A decline of -4.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.04 of the overall float, the days-to-cover ratio (short ratio) decline to 6.04.
Which companies own the most shares of Principal Financial Group Inc. (PFG)?
According to The Vanguard Group, Inc. filings, the company currently owns 27,274,249 shares, which is about 11.15% of the total PFG shares outstanding. The investor’s shares have plunged by -195,845 from its previous 13-F filing of 27470094.0 shares. BlackRock Fund Advisors acquire a 9.18% interest valued at $1.64 billion while Managed Account Advisors LLC sold a -2,932,314 stake. A total of -156,746 shares of Principal Financial Group Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -1,651,803 were sold by Capital Research & Management Co. In its current portfolio, Geode Capital Management LLC holds 5,594,730 shares valued at $517.79 million.
In terms of Principal Financial Group Inc. share price expectations, FactSet research, analysts set an average price target of $83.36 in the next 12 months, down nearly -8.47% from the previous closing price of $91.23. Analysts anticipate Principal Financial Group Inc. stock to reach $100.00 by 2023, with the lowest price target being $65.00. In spite of this, 17 analysts ranked Principal Financial Group Inc. stock as an Underweight at the end of 2023. On October 31, 2022, Keefe Bruyette assigned a price target of “an Underperform” to the stock and downgraded coverage with a $77.