Large Put Purchase on Principal Financial Group (PFG)

Shares of Principal Financial Group Inc. PFG are higher on the session by 4.56%, currently trading $27.26. The stock has recently sold off hard, but has been able to hold the 200-day moving average. I am seeing protection purchased on the stock today with the July $26 put purchased on the offer 7,670 times; open interest on the strike is only 117 contracts. This seems to signal bearish sentiment growing on the stock. Principal Financial Group, Inc. is a provider of retirement savings, investment and insurance products and services.