Twinbeech Capital LP Acquires New Shares in Principal Financial Group, Inc. (NYSE:PFG)

Twinbeech Capital LP acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 72,508 shares of the company's stock, valued at approximately $5,613,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of Principal Financial Group by 12.3% during the 3rd quarter. Barclays PLC now owns 806,672 shares of the company's stock valued at $69,293,000 after buying an additional 88,179 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Principal Financial Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,462,562 shares of the company's stock valued at $211,534,000 after buying an additional 118,722 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Principal Financial Group by 8.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,137 shares of the company's stock valued at $630,000 after buying an additional 660 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Principal Financial Group by 4.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 25,981 shares of the company's stock valued at $2,011,000 after buying an additional 1,090 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in shares of Principal Financial Group by 19.9% during the 4th quarter. Merit Financial Group LLC now owns 7,090 shares of the company's stock valued at $549,000 after buying an additional 1,177 shares during the period. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Barclays reduced their price objective on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. UBS Group reduced their price objective 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. Finally, Morgan Stanley upped their price objective on Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Trading Down 0.3%

Shares of PFG stock opened at $81.30 on Tuesday. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. 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 has a market capitalization of $18.23 billion, a PE ratio of 12.17, a PEG ratio of 0.76 and a beta of 1.01. The stock has a fifty day simple moving average of $78.06 and a two-hundred day simple moving average of $81.07.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the business posted $1.65 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.74%. Principal Financial Group's dividend payout ratio (DPR) is presently 65.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.