Quantbot Technologies LP Increases Stake in Principal Financial Group, Inc. (NYSE:PFG)

Quantbot Technologies LP raised its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2,064.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 148,299 shares of the company’s stock after acquiring an additional 141,447 shares during the quarter. Principal Financial Group makes up approximately 0.4% of Quantbot Technologies LP’s holdings, making the stock its 28th largest position. Quantbot Technologies LP owned 0.06% of Principal Financial Group worth $11,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PFG. Metis Global Partners LLC grew its holdings in Principal Financial Group by 5.0% in the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after purchasing an additional 533 shares during the period. Sanctuary Advisors LLC increased its position in Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock valued at $2,137,000 after buying an additional 9,933 shares in the last quarter. Legacy Financial Group LLC purchased a new position in Principal Financial Group during the fourth quarter valued at $771,000. Columbus Macro LLC grew its stake in shares of Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock worth $1,986,000 after acquiring an additional 8,169 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Principal Financial Group by 358.7% in the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after purchasing an additional 12,768 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG opened at $80.54 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The company has a 50 day moving average price of $82.96 and a 200-day moving average price of $83.32. The stock has a market capitalization of $18.17 billion, a PE ratio of 12.06, a PEG ratio of 0.76 and a beta of 1.17. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be issued a $0.75 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, March 12th. Principal Financial Group’s dividend payout ratio (DPR) is currently 44.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on Principal Financial Group from $90.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Morgan Stanley restated an “underweight” rating and set a $80.00 target price (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, BMO Capital Markets initiated coverage on Principal Financial Group in a research note on Thursday, January 23rd. They set a “market perform” rating and a $93.00 target price on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.92.

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.