Versor Investments LP Takes Position in Principal Financial Group, Inc. $PFG

Key Points

• Versor Investments LP has acquired a new stake in Principal Financial Group, Inc., purchasing 17,100 shares valued at approximately $1.44 million.
• Analysts have mixed ratings on Principal Financial Group, with a consensus rating of "Hold" and an average price target of $86.70, while some have increased their target prices recently.
• The company has announced an increase in its quarterly dividend to $0.78, representing an annual yield of 4.0% for shareholders.

Versor Investments LP acquired a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,100 shares of the company's stock, valued at approximately $1,443,000.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Principal Financial Group by 802.2% in the first quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after acquiring an additional 3,296,608 shares during the last quarter. Northern Trust Corp lifted its holdings in Principal Financial Group by 9.8% in the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock worth $283,546,000 after buying an additional 326,604 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Principal Financial Group by 12.6% during 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 valued at $145,318,000 after purchasing an additional 209,885 shares in the last quarter. Deutsche Bank AG increased its position in shares of Principal Financial Group by 73.5% during the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after acquiring an additional 627,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Principal Financial Group by 1.4% in the first 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 during the last quarter. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Up 2.6%

Shares of NYSE:PFG traded up $2.05 during trading hours on Friday, reaching $80.72. The stock had a trading volume of 1,250,491 shares, compared to its average volume of 1,407,295. The firm's 50 day moving average is $78.61 and its 200-day moving average is $79.46. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.97. 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 stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (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 in the previous year, the business posted $1.63 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's payout ratio is 62.78%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a research note on Monday, August 4th. UBS Group boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research note on Monday. Finally, Piper Sandler raised their price target on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $86.90.

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.