Principal Financial Group, Inc. $PFG Shares Acquired by V Square Quantitative Management LLC

Key Points

• V Square Quantitative Management LLC increased its stake in Principal Financial Group by 129.8%, acquiring a total of 18,803 shares valued at approximately $1.49 million.
• Principal Financial Group's stock price was upgraded by several brokerages, with JPMorgan Chase setting a new price target of $101.00, while the overall consensus rating remains "Reduce" with an average target of $86.90.
• The company recently announced a quarterly dividend increase to $0.78 per share, representing an annual yield of 3.8% along with a dividend payout ratio of 62.78%.

V Square Quantitative Management LLC boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 129.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,803 shares of the company's stock after purchasing an additional 10,622 shares during the period. V Square Quantitative Management LLC's holdings in Principal Financial Group were worth $1,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PFG. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Principal Financial Group during the fourth quarter valued at approximately $7,891,000. Wealth Enhancement Advisory Services LLC lifted its stake in Principal Financial Group by 3.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,071 shares of the company's stock valued at $2,560,000 after purchasing an additional 1,150 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Principal Financial Group during the first quarter valued at approximately $279,000. Versant Capital Management Inc lifted its stake in Principal Financial Group by 470.1% during the first quarter. Versant Capital Management Inc now owns 1,545 shares of the company's stock valued at $130,000 after purchasing an additional 1,274 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Principal Financial Group by 11,781.7% during the first quarter. GAMMA Investing LLC now owns 478,715 shares of the company's stock valued at $40,389,000 after purchasing an additional 474,686 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on PFG. JPMorgan Chase & Co. upped 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. Piper Sandler upped 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. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods reduced their price target on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Finally, UBS Group upped 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 report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of "Reduce" and an average price target of $86.90.

Principal Financial Group Stock Up 1.4%

Principal Financial Group stock opened at $82.62 on Monday. The firm has a market cap of $18.41 billion, a PE ratio of 12.37, a P/E/G ratio of 0.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm's 50 day moving average price is $79.64 and its two-hundred day moving average price is $78.70. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last released 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 posted $1.63 EPS. On average, research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.78 dividend. The ex-dividend date was Thursday, September 4th. This represents a $3.12 annualized dividend and a yield of 3.8%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio (DPR) is currently 62.78%.

About Principal Financial Group

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.

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