Headlands Technologies LLC Purchases New Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Headlands Technologies LLC purchased a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,793 shares of the company’s stock, valued at approximately $298,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fortis Group Advisors LLC purchased a new stake in Principal Financial Group in the third quarter worth $33,000. PrairieView Partners LLC purchased a new stake in Principal Financial Group in the fourth quarter worth $39,000. Valley National Advisers Inc. increased its position in Principal Financial Group by 81.7% in the third quarter. Valley National Advisers Inc. now owns 556 shares of the company’s stock worth $40,000 after buying an additional 250 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Principal Financial Group in the fourth quarter worth $40,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in Principal Financial Group in the third quarter worth $41,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

NYSE:PFG opened at $79.12 on Friday. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.84 and a beta of 1.25. Principal Financial Group, Inc. has a 52-week low of $65.17 and a 52-week high of $86.79. The stock has a fifty day moving average of $81.78 and a 200 day moving average of $77.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.30.

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

Principal Financial Group announced that its Board of Directors has initiated a stock buyback program on Monday, February 12th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Principal Financial Group Increases Dividend

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

Wall Street Analyst Weigh In

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

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.