Versor Investments LP Invests $825,000 in Principal Financial Group, Inc. (NYSE:PFG)

Versor Investments LP acquired a new position in Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 9,602 shares of the company’s stock, valued at approximately $825,000.

Other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Principal Financial Group by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock worth $25,624,000 after purchasing an additional 18,368 shares during the period. Cetera Investment Advisers grew its stake in Principal Financial Group by 108.1% in the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after purchasing an additional 27,827 shares in the last quarter. Sei Investments Co. raised its stake in shares of Principal Financial Group by 59.4% during the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,048 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Principal Financial Group by 57.3% during the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock valued at $14,014,000 after buying an additional 65,070 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Principal Financial Group by 54.2% in the 1st quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after buying an additional 9,432 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Down 0.1 %

Shares of PFG opened at $87.11 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a 50-day simple moving average of $85.06 and a 200-day simple moving average of $82.04. Principal Financial Group, Inc. has a 52 week low of $68.96 and a 52 week high of $91.97. The firm has a market capitalization of $19.92 billion, a P/E ratio of -96.90, a P/E/G ratio of 0.98 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the business posted $1.72 earnings per share. On average, equities research analysts expect that Principal Financial Group, Inc. will post 7.12 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 3.35%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is currently -320.00%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PFG. Barclays lifted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Morgan Stanley decreased their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Keefe, Bruyette & Woods cut their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Citigroup upped their price target on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler raised their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.58.

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.