Teza Capital Management LLC Raises Stock Holdings in Principal Financial Group, Inc. $PFG

Key Points

• Teza Capital Management LLC has boosted its stake in Principal Financial Group by 268.2%, acquiring a total of 17,678 shares, making it the 16th largest holding in their portfolio.
• Principal Financial Group recently declared a quarterly dividend of $0.78, increasing from the previous $0.76, with a yield of 3.9%.
• The company reported $2.16 earnings per share for the last quarter, exceeding analysts' expectations of $1.97.

Teza Capital Management LLC raised its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 268.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,678 shares of the company's stock after purchasing an additional 12,877 shares during the period. Principal Financial Group comprises 0.7% of Teza Capital Management LLC's investment portfolio, making the stock its 16th biggest position. Teza Capital Management LLC's holdings in Principal Financial Group were worth $1,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PFG. von Borstel & Associates Inc. purchased a new position in shares of Principal Financial Group in the 1st quarter valued at about $32,000. Zions Bancorporation National Association UT purchased a new position in shares of Principal Financial Group in the 1st quarter valued at about $34,000. Ameriflex Group Inc. purchased a new position in shares of Principal Financial Group in the 4th quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Principal Financial Group in the 1st quarter valued at about $45,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Principal Financial Group in the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded up $0.36 during trading on Tuesday, reaching $80.07. The company's stock had a trading volume of 1,025,443 shares, compared to its average volume of 1,385,505. The business has a 50 day moving average price of $79.36 and a 200-day moving average price of $79.07. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $17.84 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the prior year, the business earned $1.63 EPS. As a group, sell-side 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. Shareholders of record on Thursday, September 4th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 3.9%. Principal Financial Group's dividend payout ratio (DPR) is presently 62.78%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PFG. Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company lowered their target price on 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. JPMorgan Chase & Co. lifted their target price on Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Barclays lifted their target price on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Finally, Morgan Stanley lifted their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Reduce" and a consensus target price 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.