Voloridge Investment Management LLC Has $68.10 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Voloridge Investment Management LLC increased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 879,704 shares of the company’s stock after purchasing an additional 17,600 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.38% of Principal Financial Group worth $68,098,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Financial Group LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth about $771,000. Columbus Macro LLC grew its stake in Principal Financial Group by 46.7% in the fourth quarter. Columbus Macro LLC now owns 25,653 shares of the company’s stock valued at $1,986,000 after purchasing an additional 8,169 shares in the last quarter. Lecap Asset Management Ltd. increased its position in shares of Principal Financial Group by 135.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,469 shares of the company’s stock worth $1,739,000 after purchasing an additional 12,933 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Principal Financial Group by 2,064.3% during the 4th quarter. Quantbot Technologies LP now owns 148,299 shares of the company’s stock worth $11,480,000 after purchasing an additional 141,447 shares in the last quarter. Finally, Entropy Technologies LP raised its stake in shares of Principal Financial Group by 630.3% during the 4th quarter. Entropy Technologies LP now owns 25,014 shares of the company’s stock worth $1,936,000 after purchasing an additional 21,589 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.9%

PFG stock opened at $80.53 on Wednesday. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The stock has a market capitalization of $18.05 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.76 and a beta of 1.01. The business’s fifty day moving average price is $78.06 and its two-hundred day moving average price is $81.07.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same quarter last year, the firm posted $1.65 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $0.76 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, June 2nd. Principal Financial Group’s payout ratio is 65.10%.

Analyst Ratings Changes

PFG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Piper Sandler raised their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Barclays reduced their price target on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating for the company in a report on Friday, April 11th. UBS Group dropped their price objective on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their target price on Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 29th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.85.

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.