Versor Investments LP Makes New Investment in Principal Financial Group, Inc. (NYSE:PFG)

Versor Investments LP bought a new stake in shares of Principal Financial Group, Inc. (NYSE:PFG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,602 shares of the company’s stock, valued at approximately $825,000.

Several other institutional investors have also modified their holdings of the business. EdgeRock Capital LLC purchased a new position in shares of Principal Financial Group during the 2nd quarter valued at approximately $26,000. Family Firm Inc. acquired a new stake in Principal Financial Group in the second quarter valued at $33,000. Innealta Capital LLC bought a new position in Principal Financial Group during the 2nd quarter valued at $43,000. Capital Performance Advisors LLP acquired a new position in Principal Financial Group during the 3rd quarter worth $50,000. Finally, MCF Advisors LLC increased its position in shares of Principal Financial Group by 55.6% in the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company’s stock worth $48,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $87.11 on Wednesday. The company has a 50-day moving average of $85.06 and a 200-day moving average of $82.04. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of -96.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.20. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a twelve month low of $68.96 and a twelve month high of $91.97.

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

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. Principal Financial Group’s payout ratio is -320.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PFG. Morgan Stanley decreased their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Royal Bank of Canada upped their price target on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Jefferies Financial Group lifted their price target on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods dropped their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Finally, Piper Sandler boosted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.