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

Headlands Technologies LLC grew its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 43.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,398 shares of the company’s stock after purchasing an additional 4,386 shares during the quarter. Headlands Technologies LLC’s holdings in Principal Financial Group were worth $1,115,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PFG. Glenmede Trust Co. NA raised its position in Principal Financial Group by 2.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 12,004 shares of the company’s stock valued at $1,031,000 after purchasing an additional 291 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Principal Financial Group by 1.4% during the third quarter. Public Sector Pension Investment Board now owns 37,141 shares of the company’s stock valued at $3,190,000 after buying an additional 500 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Principal Financial Group in the third quarter valued at about $362,000. Benjamin Edwards Inc. purchased a new stake in Principal Financial Group in the third quarter worth about $382,000. Finally, Holocene Advisors LP grew its holdings in Principal Financial Group by 92.6% during the 3rd quarter. Holocene Advisors LP now owns 108,326 shares of the company’s stock worth $9,305,000 after acquiring an additional 52,077 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

NYSE PFG opened at $85.15 on Wednesday. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market capitalization of $19.21 billion, a P/E ratio of 12.75, a PEG ratio of 0.76 and a beta of 1.17. The stock has a 50-day simple moving average of $84.26 and a two-hundred day simple moving average of $83.75.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.75 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.52%. Principal Financial Group’s dividend payout ratio (DPR) is presently 44.91%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Principal Financial Group from $90.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Barclays upped their price objective on Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and cut their target price for the company from $95.00 to $92.00 in a research note on Tuesday, January 7th. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $69.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Principal Financial Group from $90.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.92.

About Principal Financial Group

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.