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Headlands Technologies LLC Has $2.39 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Principal Financial Group logo with Finance background

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.
  • Looking to Export and Analyze Principal Financial Group Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Headlands Technologies LLC lifted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 96.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,273 shares of the company's stock after buying an additional 13,875 shares during the quarter. Headlands Technologies LLC's holdings in Principal Financial Group were worth $2,385,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new position in Principal Financial Group during the first quarter valued at approximately $420,000. Charles Schwab Investment Management Inc. grew its holdings in Principal Financial Group by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company's stock valued at $123,917,000 after purchasing an additional 20,221 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Principal Financial Group during the first quarter valued at approximately $1,539,000. iA Global Asset Management Inc. acquired a new position in Principal Financial Group during the first quarter valued at approximately $436,000. Finally, Atria Wealth Solutions Inc. acquired a new position in Principal Financial Group during the first quarter valued at approximately $429,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PFG shares. Keefe, Bruyette & Woods decreased their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a report on Monday. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 30th. Piper Sandler lifted 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 note on Thursday, July 3rd. Morgan Stanley reaffirmed an "underweight" rating and issued a $75.00 price target (up previously from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. Finally, UBS Group lifted their price target 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, July 29th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Hold" and an average target price of $86.70.

Read Our Latest Report on Principal Financial Group

Principal Financial Group Stock Performance

NYSE PFG opened at $76.81 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average price is $78.48 and its two-hundred day moving average price is $79.82. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. The firm has a market capitalization of $17.11 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00.

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

Principal Financial Group Increases Dividend

The business also recently disclosed 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 is a boost from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 4.1%. Principal Financial Group's payout ratio is currently 62.78%.

Principal Financial Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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