Principal Financial Group Inc. Has $6.90 Million Stake in Two Harbors Investments Corp (NYSE:TWO)

Principal Financial Group Inc. increased its stake in shares of Two Harbors Investments Corp (NYSE:TWO) by 2.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 516,344 shares of the real estate investment trust’s stock after acquiring an additional 13,678 shares during the period. Principal Financial Group Inc.’s holdings in Two Harbors Investments were worth $6,898,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Two Harbors Investments by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 11,490,101 shares of the real estate investment trust’s stock valued at $135,928,000 after buying an additional 329,762 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Two Harbors Investments by 19.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,313,837 shares of the real estate investment trust’s stock worth $27,373,000 after purchasing an additional 371,436 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Two Harbors Investments by 28.6% during the 4th quarter. Invesco Ltd. now owns 2,154,757 shares of the real estate investment trust’s stock worth $25,491,000 after purchasing an additional 478,958 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Two Harbors Investments by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,542,458 shares of the real estate investment trust’s stock worth $18,247,000 after purchasing an additional 57,915 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Two Harbors Investments by 13.6% during the 4th quarter. Ameriprise Financial Inc. now owns 1,371,702 shares of the real estate investment trust’s stock worth $16,227,000 after purchasing an additional 164,452 shares in the last quarter. Institutional investors and hedge funds own 64.19% of the company’s stock.

Analysts Set New Price Targets

TWO has been the topic of several recent research reports. UBS Group decreased their price objective on Two Harbors Investments from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price objective on Two Harbors Investments from $12.95 to $13.25 and gave the stock a “market perform” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on Two Harbors Investments from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Royal Bank Of Canada cut their target price on Two Harbors Investments from $13.00 to $12.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 28th. Finally, JMP Securities restated a “market perform” rating on shares of Two Harbors Investments in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.00.

Two Harbors Investments Stock Performance

TWO opened at $10.03 on Wednesday. Two Harbors Investments Corp has a 52-week low of $10.01 and a 52-week high of $14.28. The firm has a market capitalization of $1.04 billion, a PE ratio of -19.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50-day simple moving average is $10.92 and its 200 day simple moving average is $11.93.

Two Harbors Investments (NYSE:TWO) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). The business had revenue of ($20.33) million during the quarter, compared to the consensus estimate of ($28.53) million. Two Harbors Investments had a net margin of 3.50% and a return on equity of 8.06%. As a group, sell-side analysts expect that Two Harbors Investments Corp will post 0.81 earnings per share for the current fiscal year.

Two Harbors Investments Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 15.56%. Two Harbors Investments’s dividend payout ratio (DPR) is currently -305.88%.

About Two Harbors Investments

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.