Principal Financial Group Inc. Has $6.78 Million Holdings in Two Harbors Investment Corp. (NYSE:TWO)

Principal Financial Group Inc. reduced its stake in shares of Two Harbors Investment Corp. (NYSE:TWO) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 488,504 shares of the real estate investment trust’s stock after selling 22,044 shares during the period. Principal Financial Group Inc. owned 0.47% of Two Harbors Investment worth $6,780,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Two Harbors Investment by 1,680.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,100 shares during the period. QRG Capital Management Inc. purchased a new position in Two Harbors Investment during the 2nd quarter valued at about $144,000. AQR Capital Management LLC bought a new stake in shares of Two Harbors Investment during the 2nd quarter valued at about $147,000. Legacy Financial Strategies LLC purchased a new position in Two Harbors Investment in the second quarter worth $170,000. Finally, Teamwork Financial Advisors LLC purchased a new stake in shares of Two Harbors Investment in the 3rd quarter valued at $173,000. Institutional investors own 64.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TWO. Compass Point initiated coverage on shares of Two Harbors Investment in a research report on Thursday, October 3rd. They issued a “buy” rating and a $15.75 price objective on the stock. Janney Montgomery Scott started coverage on shares of Two Harbors Investment in a research note on Friday, August 16th. They set a “buy” rating and a $15.00 target price for the company. Royal Bank of Canada cut their price target on Two Harbors Investment from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. JMP Securities decreased their target price on Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating on the stock in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.32.

Two Harbors Investment Trading Up 0.5 %

TWO opened at $11.64 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. Two Harbors Investment Corp. has a 52 week low of $11.28 and a 52 week high of $14.59. The stock’s fifty day moving average is $12.83 and its two-hundred day moving average is $13.12. The company has a market capitalization of $1.21 billion, a P/E ratio of -2.41 and a beta of 1.87.

Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.22). Two Harbors Investment had a positive return on equity of 4.45% and a negative net margin of 87.84%. The firm had revenue of $112.64 million for the quarter. During the same period in the previous year, the business posted ($0.01) EPS. Analysts forecast that Two Harbors Investment Corp. will post 0.47 earnings per share for the current year.

Two Harbors Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st were issued a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 15.46%. Two Harbors Investment’s dividend payout ratio (DPR) is presently -37.34%.

Two Harbors Investment Company Profile

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.