Stevens Capital Management LP Invests $300,000 in Principal Financial Group, Inc. (NYSE:PFG)

Key Points

• Stevens Capital Management LP acquired 3,553 shares of Principal Financial Group, Inc. (NYSE:PFG) valued at approximately $300,000 during the first quarter.
• Principal Financial Group reported $1.81 earnings per share for the last quarter, slightly below the consensus estimate of $1.83.
• The stock is currently rated as a "Hold" by analysts with an average target price of $86.30.

Stevens Capital Management LP acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 3,553 shares of the company's stock, valued at approximately $300,000.

Other hedge funds have also bought and sold shares of the company. Stratos Wealth Partners LTD. grew its position in shares of Principal Financial Group by 3.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company's stock valued at $323,000 after purchasing an additional 144 shares in the last quarter. Argent Trust Co lifted its stake in Principal Financial Group by 0.6% in the fourth quarter. Argent Trust Co now owns 29,345 shares of the company's stock worth $2,272,000 after purchasing an additional 161 shares during the last quarter. WFA Asset Management Corp lifted its stake in Principal Financial Group by 32.3% in the first quarter. WFA Asset Management Corp now owns 684 shares of the company's stock worth $59,000 after purchasing an additional 167 shares during the last quarter. Mather Group LLC. lifted its stake in Principal Financial Group by 11.0% in the first quarter. Mather Group LLC. now owns 1,803 shares of the company's stock worth $152,000 after purchasing an additional 178 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in shares of Principal Financial Group by 2.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 9,778 shares of the company's stock valued at $836,000 after acquiring an additional 203 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded down $2.12 on Wednesday, hitting $78.07. 645,788 shares of the company's stock were exchanged, compared to its average volume of 1,398,759. The company has a 50-day simple moving average of $78.61 and a 200-day simple moving average of $79.96. The stock has a market capitalization of $17.50 billion, a PE ratio of 11.70, a PEG ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a dividend of $0.78 per share. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.00%. Principal Financial Group's payout ratio is 65.10%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research note on Wednesday. UBS Group upped their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday. Piper Sandler boosted their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Morgan Stanley reiterated an "underweight" rating and set a $75.00 price target (up previously from $71.00) on shares of Principal Financial Group in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Principal Financial Group currently has an average rating of "Hold" and a consensus price target of $86.90.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.