Headlands Technologies LLC Invests $298,000 in Principal Financial Group, Inc. (NYSE:PFG)

Headlands Technologies LLC acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,793 shares of the company’s stock, valued at approximately $298,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFG. Ellevest Inc. increased its stake in Principal Financial Group by 3.3% in the 3rd quarter. Ellevest Inc. now owns 4,644 shares of the company’s stock worth $335,000 after buying an additional 149 shares in the last quarter. Merit Financial Group LLC increased its stake in Principal Financial Group by 2.3% in the 3rd quarter. Merit Financial Group LLC now owns 6,947 shares of the company’s stock worth $501,000 after buying an additional 153 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Principal Financial Group by 1.3% in the 4th quarter. Verdence Capital Advisors LLC now owns 11,776 shares of the company’s stock worth $926,000 after buying an additional 153 shares in the last quarter. Quent Capital LLC increased its stake in Principal Financial Group by 15.5% in the 4th quarter. Quent Capital LLC now owns 1,185 shares of the company’s stock worth $93,000 after buying an additional 159 shares in the last quarter. Finally, Pinion Investment Advisors LLC increased its stake in Principal Financial Group by 1.9% in the 3rd quarter. Pinion Investment Advisors LLC now owns 9,193 shares of the company’s stock worth $663,000 after buying an additional 169 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 2.4 %

Shares of NYSE:PFG opened at $79.12 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $65.17 and a 12 month high of $86.79. The company has a 50-day moving average price of $81.78 and a 200 day moving average price of $77.50. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.84 and a beta of 1.25.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.25%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the business posted $1.48 EPS. As a group, equities research analysts predict that Principal Financial Group, Inc. will post 7.58 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 12th were issued a $0.69 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. The ex-dividend date was Monday, March 11th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.49%. Principal Financial Group’s dividend payout ratio (DPR) is presently 52.67%.

Principal Financial Group declared that its Board of Directors has approved a share buyback plan on Monday, February 12th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler increased their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada increased their price target on Principal Financial Group from $75.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Wells Fargo & Company increased their price target on Principal Financial Group from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Evercore ISI raised their price objective on Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.64.

Principal Financial Group Company 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.