Principal Financial Group Inc (NYSE:PFG) has seen a rise of 1,156,144 shares or 35.4% in the short interest. The remaining shorts are 1.5% of the total floated shares. The net short interest, as on June 15,2016, stood at 4,426,407 shares and the stocks days to cover will be 4 by factoring in the average per day volume of 1,234,623 shares. On May 31,2016, 3,270,263 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Principal Financial Group Inc (NYSE:PFG): The stock opened at $41.44 on Friday but the bulls could not build on the opening and the stock topped out at $42.05 for the day. The stock traded down to $39.92 during the day, due to lack of any buying support eventually closed down at $39.96 with a loss of -10.24% for the day. The stock had closed at $44.52 on the previous day. The total traded volume was 4,253,618 shares.
The company shares have dropped -21.25% from its 1 Year high price. On Aug 14, 2015, the shares registered one year high at $58.02 and the one year low was seen on Feb 2, 2016. The 50-Day Moving Average price is $42.94 and the 200 Day Moving Average price is recorded at $41.07.
Principal Financial Group Inc (NYSE:PFG) has tumbled 5.62% during the past week and has dropped 10.02% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.06%. Principal Financial Group Inc (NYSE:PFG) has underperformed the index by 7.3% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Principal Financial Group, Inc. is an investment management company. The Company offers businesses, individuals and institutional clients a range of financial products and services, including retirement, asset management and insurance through its financial services companies. Its segments include Retirement and Investor Services, Principal Global Investors, Principal International, and U.S. Insurance Solutions. Its Retirement and Investor Services segment provides retirement and related financial products and services primarily to businesses, their employees and other individuals. The Principal Global Investors segment provides asset management services.. The Principal International segment offers pension accumulation products and services, mutual funds, asset management, income annuities and life insurance accumulation products. The U.S. Insurance Solutions segment offers individual and group insurance solutions.