Trexquant Investment LP Invests $9.01 Million in Principal Financial Group, Inc. $PFG

Key Points

• Trexquant Investment LP purchased a new stake of 106,820 shares in Principal Financial Group, valued at approximately $9,012,000.
• Principal Financial Group recently increased its quarterly dividend from $0.76 to $0.78 per share, representing a yield of 3.9%.
• Analysts have mixed ratings on Principal Financial Group, with targets ranging from $72.00 to $101.00, indicating varied outlooks on the stock's performance.

Trexquant Investment LP purchased a new position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 106,820 shares of the company's stock, valued at approximately $9,012,000.

Several other institutional investors also recently bought and sold shares of PFG. Victory Capital Management Inc. increased its holdings in Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock worth $312,805,000 after acquiring an additional 3,296,608 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Principal Financial Group by 12.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock worth $145,318,000 after acquiring an additional 209,885 shares during the period. Deutsche Bank AG raised its stake in Principal Financial Group by 73.5% during the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after purchasing an additional 627,865 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Principal Financial Group by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company's stock worth $123,917,000 after purchasing an additional 20,221 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Principal Financial Group by 8.7% during the 4th quarter. Royal Bank of Canada now owns 1,062,128 shares of the company's stock valued at $82,221,000 after buying an additional 85,011 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 1.7%

NYSE:PFG traded up $1.38 during midday trading on Thursday, reaching $80.78. 247,609 shares of the stock traded hands, compared to its average volume of 1,387,415. The business has a 50-day moving average of $79.30 and a two-hundred day moving average of $79.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97. The stock has a market capitalization of $17.99 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS 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 company posted $1.63 earnings per share. On average, equities analysts forecast 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, September 26th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend 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 dividend yield of 3.9%. Principal Financial Group's payout ratio is currently 62.78%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PFG shares. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a report on Wednesday, July 30th. Keefe, Bruyette & Woods cut their target price on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a report on Monday, August 4th. Barclays lifted their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. Piper Sandler lifted their target price on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $86.90.

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.