Headlands Technologies LLC Grows Position in Principal Financial Group, Inc. (NYSE:PFG)

Key Points

• Headlands Technologies LLC increased its stake in Principal Financial Group by 96.4%, owning 28,273 shares worth approximately $2.39 million as of the latest quarter.
• Principal Financial Group is set to pay a quarterly dividend of $0.78 on September 26th, which is an increase from the previous dividend of $0.76, reflecting a 4.1% yield.
• Analysts have mixed ratings on Principal Financial Group, with a consensus rating of "Hold" and an average price target of $86.70.

Headlands Technologies LLC grew its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 96.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 28,273 shares of the company's stock after buying an additional 13,875 shares during the period. Headlands Technologies LLC's holdings in Principal Financial Group were worth $2,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC grew its position in Principal Financial Group by 23.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 3,438 shares of the company's stock valued at $266,000 after purchasing an additional 644 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Principal Financial Group during the 4th quarter worth approximately $5,460,000. Aviva PLC grew its stake in shares of Principal Financial Group by 14.4% during the 4th quarter. Aviva PLC now owns 139,485 shares of the company's stock worth $10,798,000 after acquiring an additional 17,536 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Principal Financial Group by 71.7% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,481 shares of the company's stock valued at $347,000 after purchasing an additional 1,871 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Principal Financial Group by 8.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 43,726 shares of the company's stock worth $3,385,000 after buying an additional 3,426 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PFG shares. Morgan Stanley reissued an "underweight" rating and issued a $75.00 target price (up from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler upped their target price on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. UBS Group upped their target price on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods reduced their target price on Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a report on Monday, August 4th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $86.70.

Principal Financial Group Trading Down 0.3%

PFG traded down $0.26 during mid-day trading on Monday, hitting $76.33. The stock had a trading volume of 264,587 shares, compared to its average volume of 1,412,226. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.97. The stock's fifty day simple moving average is $78.39 and its 200-day simple moving average is $79.71. The firm has a market capitalization of $17.00 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the company posted $1.63 EPS. As a group, research analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given a $0.78 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's payout ratio is currently 62.78%.

Principal Financial Group Company 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.