Mitsubishi UFJ Trust & Banking Corp Buys 63,531 Shares of Principal Financial Group, Inc. $PFG

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 67.2% in the fourth quarter, HoldingsChannel reports. The firm owned 158,121 shares of the company’s stock after purchasing an additional 63,531 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Principal Financial Group were worth $13,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aptus Capital Advisors LLC lifted its holdings in shares of Principal Financial Group by 3.5% during the third quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company’s stock worth $286,000 after buying an additional 118 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Principal Financial Group by 22.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 713 shares of the company’s stock worth $59,000 after buying an additional 130 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Principal Financial Group by 1.0% during the third quarter. Kestra Private Wealth Services LLC now owns 13,800 shares of the company’s stock worth $1,144,000 after buying an additional 137 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Principal Financial Group by 18.3% during the third quarter. Clearstead Advisors LLC now owns 907 shares of the company’s stock worth $75,000 after buying an additional 140 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Principal Financial Group by 6.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,429 shares of the company’s stock worth $201,000 after buying an additional 151 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 0.2%

PFG stock opened at $101.09 on Friday. The company has a market cap of $21.90 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89. The business has a 50-day simple moving average of $92.37 and a 200 day simple moving average of $89.20. Principal Financial Group, Inc. has a 52 week low of $74.83 and a 52 week high of $101.90. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the previous year, the firm earned $1.81 earnings per share. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 9.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, June 1st. Principal Financial Group’s payout ratio is presently 45.78%.

Analyst Ratings Changes

PFG has been the subject of a number of research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $103.00 target price on shares of Principal Financial Group in a report on Monday, January 5th. Morgan Stanley lifted their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $92.00 target price on shares of Principal Financial Group in a report on Thursday, March 26th. Bank of America dropped their target price on Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Finally, UBS Group lifted their target price on Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.33.

Insider Transactions at Principal Financial Group

In related news, insider Wee Yee Cheong sold 1,080 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $101.00, for a total value of $109,080.00. Following the completion of the transaction, the insider owned 91,108 shares of the company’s stock, valued at $9,201,908. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel George Djurasovic sold 2,571 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the transaction, the general counsel directly owned 21,906 shares of the company’s stock, valued at approximately $2,208,781.98. This trade represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,652 shares of company stock valued at $368,414. 1.13% of the stock is owned by insiders.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.