---
title: "Principal Financial Group Inc. Acquires New Holdings in Veren Inc. (NYSE:VRN)"
description: "Principal Financial Group Inc. acquired a new stake in Veren Inc. (NYSE:VRN), purchasing 3,384,840 shares valued at approximately $2,691,000 in Q2. Institutional investors hold 49.37% of Veren's stock"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/213195128.md"
published_at: "2024-09-02T08:42:48.000Z"
---

# Principal Financial Group Inc. Acquires New Holdings in Veren Inc. (NYSE:VRN)

> Principal Financial Group Inc. acquired a new stake in Veren Inc. (NYSE:VRN), purchasing 3,384,840 shares valued at approximately $2,691,000 in Q2. Institutional investors hold 49.37% of Veren's stock. The company reported a quarterly EPS of $0.28 and revenue of $3.57 million, with analysts projecting a fiscal year EPS of $1.10. Veren recently increased its dividend, moving to $0.0834, with a yield of 4.61%. Scotiabank lowered its price target for Veren while maintaining a "sector outperform" rating.

Principal Financial Group Inc. acquired a new stake in shares of Veren Inc. (NYSE:VRN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,384,840 shares of the company's stock, valued at approximately $26,691,000. Principal Financial Group Inc. owned 0.55% of Veren as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VRN. Dixon Mitchell Investment Counsel Inc. acquired a new position in Veren during the second quarter valued at approximately $36,000. Pacifica Partners Inc. acquired a new position in shares of Veren in the second quarter valued at approximately $61,000. Fifth Third Bancorp acquired a new position in shares of Veren in the second quarter valued at approximately $85,000. Perkins Coie Trust Co acquired a new position in shares of Veren in the second quarter valued at approximately $205,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Veren in the second quarter valued at approximately $234,000. Institutional investors and hedge funds own 49.37% of the company's stock.

## Veren Stock Down 1.6 %

Veren stock opened at $7.23 on Monday. The firm has a market capitalization of $4.46 billion, a PE ratio of -90.36 and a beta of 2.17. Veren Inc. has a twelve month low of $6.03 and a twelve month high of $9.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50 day moving average of $7.55.

Veren (NYSE:VRN - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. The business had revenue of $852.57 million for the quarter, compared to analyst estimates of $821.00 million. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. Equities analysts anticipate that Veren Inc. will post 1.1 EPS for the current fiscal year.

## Veren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be given a $0.0834 dividend. This represents a $0.33 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Veren's previous quarterly dividend of $0.08. Veren's payout ratio is currently -424.95%.

## Analysts Set New Price Targets

Separately, Scotiabank reduced their price target on shares of Veren from $16.00 to $15.00 and set a "sector outperform" rating for the company in a report on Friday, July 12th.

**Get Our Latest Report on VRN**

## About Veren

(Free Report)

Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.

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*This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
