Teacher Retirement System of Texas Acquires New Stake in Principal Financial Group, Inc. (NYSE:PFG)

Teacher Retirement System of Texas purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 199,900 shares of the company's stock, valued at approximately $16,866,000. Teacher Retirement System of Texas owned about 0.09% of Principal Financial Group as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PFG. WCM Investment Management LLC increased its stake in Principal Financial Group by 7.3% in the first quarter. WCM Investment Management LLC now owns 7,023 shares of the company's stock valued at $583,000 after purchasing an additional 479 shares during the period. Sageworth Trust Co acquired a new position in Principal Financial Group in the 1st quarter valued at about $217,000. Mather Group LLC. raised its stake in Principal Financial Group by 11.0% during the 1st quarter. Mather Group LLC. now owns 1,803 shares of the company's stock valued at $152,000 after acquiring an additional 178 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in Principal Financial Group by 4.1% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 109,318 shares of the company's stock worth $9,223,000 after acquiring an additional 4,309 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Principal Financial Group in the 1st quarter valued at approximately $215,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

NYSE PFG traded up $0.37 during mid-day trading on Friday, hitting $80.88. The stock had a trading volume of 605,866 shares, compared to its average volume of 1,327,313. The company has a 50 day simple moving average of $77.86 and a 200 day simple moving average of $79.58. 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 cap of $18.13 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last released 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 return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the previous year, the business earned $1.65 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 2nd were given a $0.76 dividend. The ex-dividend date was Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.76%. Principal Financial Group's dividend payout ratio is currently 65.10%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group cut their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Piper Sandler boosted their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Morgan Stanley raised their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and an average price target of $83.38.

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.