Squarepoint Ops LLC Acquires 62,404 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Squarepoint Ops LLC increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 143.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,964 shares of the company's stock after acquiring an additional 62,404 shares during the period. Squarepoint Ops LLC's holdings in Principal Financial Group were worth $8,203,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PFG. Curio Wealth LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth approximately $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group during the fourth quarter worth $33,000. Navigoe LLC acquired a new position in Principal Financial Group during the fourth quarter worth $37,000. Covestor Ltd raised its position in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after acquiring an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Principal Financial Group during the fourth quarter worth about $46,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.3%

PFG stock traded up $0.22 during mid-day trading on Thursday, reaching $77.89. 362,996 shares of the company traded hands, compared to its average volume of 1,508,570. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.97. The firm's 50 day moving average price is $77.34 and its 200 day moving average price is $80.81. The stock has a market cap of $17.46 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, equities research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $0.76 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.90%. Principal Financial Group's dividend payout ratio is presently 65.10%.

Analysts Set New Price Targets

Several research firms have issued reports on PFG. Barclays dropped their price objective on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Piper Sandler raised their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price objective on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 29th. Finally, UBS Group lowered their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $83.85.

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.