Teza Capital Management LLC Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Teza Capital Management LLC purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,801 shares of the company's stock, valued at approximately $372,000.

Other hedge funds also recently modified their holdings of the company. Legacy Financial Group LLC acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $771,000. Columbus Macro LLC raised its stake in Principal Financial Group by 46.7% during the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company's stock worth $1,986,000 after buying an additional 8,169 shares during the last quarter. Lecap Asset Management Ltd. raised its stake in Principal Financial Group by 135.6% during the fourth quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company's stock worth $1,739,000 after buying an additional 12,933 shares during the last quarter. Quantbot Technologies LP lifted its holdings in Principal Financial Group by 2,064.3% in the fourth quarter. Quantbot Technologies LP now owns 148,299 shares of the company's stock valued at $11,480,000 after buying an additional 141,447 shares during the period. Finally, Entropy Technologies LP lifted its holdings in Principal Financial Group by 630.3% in the fourth quarter. Entropy Technologies LP now owns 25,014 shares of the company's stock valued at $1,936,000 after buying an additional 21,589 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PFG shares. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a report on Tuesday, April 29th. Morgan Stanley raised their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research report on Monday, May 19th. Piper Sandler lifted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Barclays cut their target price on shares of 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. Four 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 company presently has an average rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Stock Down 0.4%

Shares of PFG traded down $0.34 during trading hours on Monday, reaching $77.01. The stock had a trading volume of 846,029 shares, compared to its average volume of 1,323,696. The firm has a 50-day simple moving average of $77.70 and a 200 day simple moving average of $80.90. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. 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 company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share 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 last year, the company posted $1.65 EPS. Equities research analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio is currently 65.10%.

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.