Versor Investments LP Invests $825,000 in Principal Financial Group, Inc. (NYSE:PFG)

Versor Investments LP bought a new stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the third quarter, according to its most recent Form 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 large investors also recently bought and sold shares of PFG. Venturi Wealth Management LLC increased its holdings in shares of Principal Financial Group by 24.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,226 shares of the company's stock worth $105,000 after buying an additional 237 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in Principal Financial Group during the third quarter worth approximately $215,000. Crossmark Global Holdings Inc. raised its position in Principal Financial Group by 1.8% during the third quarter. Crossmark Global Holdings Inc. now owns 15,257 shares of the company's stock valued at $1,311,000 after purchasing an additional 277 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $454,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $50,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Down 0.5 %

Shares of PFG traded down $0.47 during mid-day trading on Wednesday, hitting $86.64. The company's stock had a trading volume of 905,985 shares, compared to its average volume of 1,133,550. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company's 50-day moving average is $85.18 and its 200-day moving average is $82.09. Principal Financial Group, Inc. has a 52-week low of $70.22 and a 52-week high of $91.97. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of -96.93, a PEG ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted 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). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 EPS. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.37%. Principal Financial Group's payout ratio is currently -320.00%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Principal Financial Group from $73.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, July 18th. Barclays lifted their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a "sector perform" rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Finally, Piper Sandler increased their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.