Quantbot Technologies LP Purchases 23,331 Shares of Principal Financial Group, Inc. $PFG

Quantbot Technologies LP increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 187.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,750 shares of the company’s stock after buying an additional 23,331 shares during the quarter. Quantbot Technologies LP’s holdings in Principal Financial Group were worth $2,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC increased its position in Principal Financial Group by 8.5% in the 1st quarter. LPL Financial LLC now owns 115,811 shares of the company’s stock valued at $9,771,000 after acquiring an additional 9,064 shares during the period. US Bancorp DE grew its stake in shares of Principal Financial Group by 5.5% in the first quarter. US Bancorp DE now owns 24,437 shares of the company’s stock worth $2,062,000 after purchasing an additional 1,264 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Principal Financial Group in the first quarter worth $220,000. Atria Wealth Solutions Inc. acquired a new stake in Principal Financial Group in the first quarter valued at $429,000. Finally, iA Global Asset Management Inc. bought a new position in Principal Financial Group during the 1st quarter worth $436,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Wee Yee Cheong sold 1,887 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the sale, the executive vice president directly owned 81,421 shares in the company, valued at $6,924,041.84. This trade represents a 2.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.08% of the stock is owned by company insiders.

Principal Financial Group Price Performance

Shares of PFG opened at $85.93 on Friday. The firm has a market cap of $19.14 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $90.31. The business’s 50 day moving average price is $82.57 and its two-hundred day moving average price is $80.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, October 27th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the business posted $2.05 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.79 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PFG. Evercore ISI upped their price target on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Barclays lifted their price objective on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Piper Sandler set a $94.00 price target on shares of Principal Financial Group and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Morgan Stanley raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $80.00 to $81.00 in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $88.90.

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.