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

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $33,000. Navigoe LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $37,000. Covestor Ltd grew its position in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $46,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PFG shares. Piper Sandler boosted 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 report on Wednesday, April 2nd. Wells Fargo & Company boosted their target price 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. Morgan Stanley boosted their target price 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. UBS Group decreased their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Principal Financial Group currently has a consensus rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Stock Performance

Shares of NYSE PFG traded down $0.34 during trading hours on Friday, hitting $77.01. 846,029 shares of the stock were exchanged, compared to its average volume of 1,323,696. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company's 50 day moving average is $77.70 and its 200 day moving average is $80.94. The firm has a market capitalization of $17.26 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98.

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

Principal Financial Group Increases Dividend

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